Tag Archives: tsla

This Could Signal Apple’s Car Ambitions Are Moving Forward

Loading the player… Apple ’s ( AAPL ) car ambitions look to be moving forward. The tech titan apparently is “significantly ramping” its electric-car project, which could one day compete with the likes of Tesla Motors ( TSLA ), Alphabet ( GOOGL )-owned Google, China’s Baidu ( BIDU ) and even General Motors ( GM ). Apple has leased a 96,000-square-foot facility in Silicon Valley’s Sunnyvale, according to multiple reports, with some speculating that the company is using the space for its “Project Titan” car project. Meanwhile, Fiat Chrysler ( FCAU ) CEO Sergio Marchionne said at the Geneva International Motor Show today that his company would be well-suited to partner with Apple in building the tech company’s electric car. Apple has recruited a large number of auto experts, with specializations ranging from batteries to autonomous driving, but it has yet to publicly confirm any of its plans. Because of that, we still have no idea what an Apple car would look like. Some industry experts say there’s no question that Apple will build a car . The rumored ship-date target is 2019. Earlier this month, Apple received a car-related patent for a mobile device sensor to “determine when the user is in a vehicle that is driving.” But Apple could be hitting roadblocks. In January, reports said that Steve Zadesky, who has led Apple’s e-car efforts, was stepping down . Apple closed up 0.2% to 100.75 in below-average volume on the stock market today . Shares are holding above their 50-day line after retaking that level yesterday, and tested support at the 100 price level. Alphabet dropped below its 50-day line in intraday trade, after climbing above that area in Tuesday’s session, and closed right at that level with a 0.4% loss. Baidu looked for support at its 200-day line, falling 1.8%. And GM, nearing its 50-day line, rose 0.5%.

Will Tesla Suffer Same Fate As Other Citron Shorts GPRO, AMBA, MBLY?

Loading the player… Tesla Motors ( TSLA ) took a hit after short seller Citron Research sent out a tweet Tuesday that it’s shorting the stock. And with other notable Citron shorts trading well off of their highs, including GoPro ( GPRO ), Ambarella ( AMBA ) and Mobileye ( MBLY ), the call could potentially be a bad sign for the electric-car maker. Citron said on Twitter ( TWTR ) that Tesla has “supply AND demand problems” and that the “news flow all around does not look good” for the stock. The short seller sees the stock hitting as low as 100 by the end of the year. It’s currently trading around 185. Tesla stock reversed lower Tuesday on the news, falling 2.9% after hitting resistance at its downward-sloping 50-day line for a second straight session. Tesla dipped 0.3% on the stock market today  in quick turnover. The stock is trading 35% below its July high, reached in a now-failed breakout attempt from a cup-with-handle base. The stock has trended lower since then as analysts have voiced concerns about the production of Tesla’s new models and their demand. Meanwhile, GoPro is trading 79% below its 52-week high. Shares were briefly able to hold above their 50-day and 200-day moving averages last summer, but the stock entered a steep decline soon after. GoPro shot up 11% Wednesday after announcing it’s buying two video editing mobile apps. GoPro chip supplier Ambarella has moved somewhat in tandem with the action camera maker. It’s trading 65% below its all-time high, which it reached last July after initial commentary from Citron hit the stock about a month earlier. Shares are currently trying to find support at their 50-day line as they fell 2.4% Wednesday. And Mobileye, a Tesla partner, is also trying to hold above its downward-sloping 50-day line, trading down a fraction after losing as much as 4% intraday. It’s trading about 48% below its August high. In December, Citron called Mobileye its 2016 short of the year.

Software Updates To Thump ‘Motivated’ Internet Of Things Hackers

SAN FRANCISCO — Gemalto exec David Etue hinged the success of the nascent Internet of Things industry — and its 30 billion connected devices in four years — to an efficient software update process. Because when 30 billion devices are connected to the Internet, there’s a lot that can go wrong … and fast. “Our adversaries are highly motivated,” Etue told attendees at the RSA Conference in San Francisco, a major annual gathering of security companies. “But if we can get a secure software update process right, at least we can make changes.” He added: “If we get this right, this puts us in a position for long-term success.” France-based Gemalto competes in the software application and secured devices market, and therefore has a big dog in the upcoming Internet of Things fight for market share. Although the IoT presents a huge market opportunity for tech and pure cybersecurity players, its mass scale also terrifies chief information security officers, Etue said. “We don’t generally intentionally put our IoT-connected devices in hostile territory,” he said. “We might put them on the local Starbucks ( SBUX ) Wi-Fi. … That’s not that scary when it’s your fitness meter. It’s pretty scary when it’s a pacemaker.” On the business side, retail stores use sensors to count shoppers — information hedge funds used to pay people to gather outside brick-and-mortar establishments. Farmers use devices to track the development of seeds. Tesla Motors ( TSLA ), Apple ( AAPL ), Toyota ( TM ), Alphabet ( GOOGL ) and Ford ( F ) are already racing toward autonomous vehicles. “So we’re seeing a lot of demand to monetize this data,” Etue said. But on the flip side, consumers are spooked after a fault in Fiat Chrysler ‘s ( FCAU ) Jeep Cherokee GPS system allowed it to be hacked,  Rapid7 ( RPD ) researchers were able to hack baby monitors and Santa Cruz, Calif., residents protested smart meters. “We get really excited about the device, but forget about where that data is from and how it’s being managed,” Etue said. He suggests consumers and developers ask themselves a series of questions before taking on Internet of Things devices. Most of those questions center on how, where and what data are stored; whether it’s accessible by a third party; and who manages the accessibility. “We’re never going to get this right the first time,” he said. “We’re going to have to change.” Image provided by Shutterstock .