Apple Car Is 'A Matter Of When, Not If' Says Analyst

Wedbush Securities analyst Daniel Ives expects Apple Inc AAPL to lay out the groundwork for the Apple Car in the next 3 to 6 months he said Tuesday on CNBC's "Squawk Box." 

"It's a matter of when, not if" for the Apple Car, he added. 

The analyst does not expect any news regarding the Apple Car later today at Apple's first event of 2021. 

Ives is expecting a refresh across the iPad line announced today. There may be hints about a potential AirPods 3 release, as well as some hints about future AR/VR technology, Ives said.

The analyst also believes that Apple will release an Apple Glasses product in 2022. 

Analyst Rating: Ives has an Outperform rating on Apple with a $175 price target.

The analyst thinks that the product cycle plus strong numbers when the company reports next week will be a "one, two punch" for Apple.

As innovation continues at Apple, the stock will continue to go higher, Ives added. 

Price Action: Apple is up 0.011% to $134.85 in Tuesday morning.  

Related Link: Analyst Expects Apple To Hike Dividends By At Least 10% When Reporting Q2 Earnings

(Photo: Bangu Wang via Unsplash)