Today’s Research Reports on Stocks to Watch: Tesla and Apple
Tesla shares saw a modest close in the red on Wednesday as a Bloomberg report indicated that the company could run out of money by next August. Tesla is also days away from beginning to test its battery it is building in Australia. Shares of Apple had a modest close in the green after it was revealed by TechCrunch that the company has acquired AR headset start up Vrvana, for $30 million.
RDI Initiates Coverage on:
Tesla, Inc. shares closed down 1.64% on Wednesday on trading volume below average. It was revealed yesterday that CEO Elon Musk’s giant battery, which is being built in the outback of Australia, will be energized in the coming days and will initiate testing. South Australia’s state government said recently that the Tesla power packs have fully been installed on a site north of Adelaide on a wind farm. This is the largest lithium-ion battery in the world that is being built by the electric vehicle giant’s CEO. In other news, analyst from Bloomberg has revealed that Tesla is spending around $8,000 every minute as it produce the Model 3 and adds the newly unveiled semi-truck and roadster to its production . Bloomberg reported that at this current spending rate, the company could exhaust its cash by next August. Tesla had said in early November that it has enough cash to produce 5,000 Model 3s by the end of March in 2018 and will then “generate significant cash flows from operating activities.”
Access RDI’s Tesla, Inc. Research Report at:
Apple Inc. shares closed up 1.05% on nearly 26 million shares traded on Wednesday. News from TechCrunch revealed yesterday that Apple has purchased Vrvana, an augmented reality headset startup, for $30 million. The Company neither denied nor confirmed the acquisition to TechCrunch. Vrvana has an unreleased "totem headset" that uses both AR technologies and virtual reality technologies to have both on one headset. The company has previously stated, "Totem’s hand tracking and inside-out positional tracking empowers your workforce to manipulate virtual objects with their hands wherever they please." In other news, it was revealed on Tuesday by The Financial Times, that Foxconn, Apple’s main supplier in Asia has been working high school students illegally overtime.
Access RDI’s Apple Inc. Research Report at:
Our Actionable Research on Tesla, Inc. (NASDAQ: TSLA) and Apple Inc. (NASDAQ: AAPL) can be downloaded free of charge at Research Driven Investing.
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