Apple Considering Foray Into Cars, Medical Devices

Tuesday, 18 Feb 2014 08:53 AM

By Melanie Batley

  Comment  |
   Contact  |
  Print  
|  A   A  
  Copy Shortlink
Technology giant Apple is laying the groundwork to transition beyond consumer electronics with ambitious plans to break into the automobile and medical devices industries, despite a broad market view that the company's ambitions have been centered around wearable technology.

According to The San Francisco Chronicle, Apple's head of mergers and acquisitions, Adrian Perica, met with Tesla CEO Elon Musk last spring around the same time analysts were predicting Apple might acquire the electric car company.

"Apple must increasingly rely on new products to reignite growth beyond the vision" of late founder Steve Jobs, said Bill Kreher, an analyst with Edward Jones Investments based in St. Louis, according to the Chronicle. "They need the next big thing."

Analysts say it is unclear what Tesla might gain from a possible Apple takeover.

"They'd get access to deep pockets, but Tesla's got access to Wall Street right now," Andrea James, an analyst for Dougherty & Co. investment bank, told the Chronicle. "I could see a partnership more than a takeout."

The companies already share some notable commonalities, according to the Chronicle. Both have built brands on advanced engineering and user-friendly design, and each company has become an emblem of Silicon Valley innovation. A possible partnership could see an Apple touch-screen installed on Tesla's dashboard, some predict.

In the field of medical technology, the Chronicle reports that Apple has been heavily exploring sensor technology that could help predict heart attacks, and has been hiring healthcare professionals.

In December, a high-level Apple team met with FDA chief Dr. Margaret Hamburg and Dr. Jeffrey Shuren, who oversees agency approval for medical devices, to discuss "mobile medical applications," according to FDA records, the Chronicle reports.

Since 2009, Apple has accelerated the pace of its acquisitions, perhaps in anticipation of the slowdown of sales in smartphones and tablets, along with the escalating competition with Android-based mobile devices.

It has been aggressive in its takeovers of the most cutting-edge Internet technology, such as search engines, data analysts, mapping software and motion-tracking chips.

Related Stories:



© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Matt Towery: Give Thanks - the Nation Is on the Rebound

Thursday, 27 Nov 2014 10:43 AM

Most of us haven't felt any personal "economic recovery" in our own pockets. But contrary to my often doom-and-gloom out . . .

GOP's Tom Cotton Thanks Troops for Sacrifices on Thanksgiving Day

Thursday, 27 Nov 2014 09:22 AM

Senator-elect Tom Cotton delivered the GOP's weekly address on Thanksgiving Day, thanking the military for its sacrifice . . .

Gallup: Only 27% of Working-Class Whites Support Obama

Thursday, 27 Nov 2014 08:33 AM

And 41 percent of white college graduates approve of President Obama's job performance , the largest gap between working . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved