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Bye iCar, Hello iAI

02 Mar 20245 mins
Bye iCar, Hello iAI

In a surprise move this week, Apple canceled its decade-long EV project to focus on AI and headsets. For some background, Apple is still predominantly a one-trick pony, with its iPhone accounting for 52% of total revenue last year. However, the smartphone market is nearing saturation, with a 70% penetration rate globally and 82% in the US.

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