At Extreme Investor Network, we are always keeping a close eye on the latest developments in the world of finance. Recently, there has been news that tech giant Apple (AAPL) is in discussions with electric vehicle maker Rivian (RIVN) about a potential partnership. This exciting development has caught the attention of investors, with Rivian stock seeing a significant jump while Apple’s stock also edged higher.
According to reports from DigiTimes, Apple and Rivian are exploring the possibility of working together. While details of the potential partnership are still unknown, this news comes on the heels of Apple’s decision to cancel its “Project Titan” Apple Car back in February.
While it’s important to note that these talks may not necessarily lead to a concrete collaboration, the mere possibility of such an alliance is enough to generate interest among investors. Apple is set to hold a “Let Loose” event on Tuesday, where they are expected to unveil new iPads. On the same day, Rivian will be reporting its first-quarter earnings, adding to the anticipation surrounding both companies.
In terms of stock performance, Apple saw a slight increase early on Tuesday after a dip in Monday’s trading. Meanwhile, Rivian’s stock surged 8% in premarket trading, indicating a potential move above its 50-day line. With Rivian’s market cap currently standing at just $10.1 billion, there is plenty of room for growth ahead.
As we continue to monitor these exciting developments, be sure to stay updated by following our expert analyst Ed Carson on Threads at @edcarson1971 and on Twitter at @IBD_ECarson. And for more insightful content, check out our recommendations for the best growth stocks to buy and watch, along with premium stock lists, tools, and analysis available with IBD Digital.
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