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  • Drew Dowdell
    Drew Dowdell

    By Drew Dowdell •

    Turns Out Apple Did Plan Bid for Tesla

    Followers 1

      ...forcing Elon out was the deal-breaker...

    After much speculation, it has come to light that Apple did propose to bid on Tesla back in 2013 for $240 a share, higher than the sub-$200 a share Tesla is trading at today, according to CNBC. Analyst Craig Irwin told CNBC that there was a serious bid from Apple and says that multiple credible sources have told him so.  

    Tesla is down more than 46% from its high in August 2018 when CEO Musk tweeted that he had funding secured to take Tesla private at $420 a share via a Saudi Soverign Wealth Fund, but that tweet turned out to be false, Tesla reversed course, and got Musk and Tesla in trouble with the SEC and further cost Musk the Chairmanship of the company. 

    Now that Tesla stock is trading in the sub-$200 range, it becomes a substantially more attractive acquisition target, not only for Apple, but for other companies as well.  The question remains what to do with Tesla's CEO Elon Musk.  Apple's insistence on Musk's departure was apparently what killed the deal back in 2013. 

    Reports are that Apple is working on its own car technology, but acquiring Tesla would substantially boost their progress. 

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    David

    I can totally see American as well as Chinese companies wanting to buy Tesla. Makes total sense for a tech company that does want to push into the auto space to buy them especially one with deep pockets like Apple, Microsoft, Google, Huawei, etc.

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    Drew Dowdell

    Tesla's market cap right now is $34B.  Apple has that in change between their couch cushions and still has enough money to buy Ford too.  Tesla and Elon are in a much more precarious position than I think they know. 

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    Drew Dowdell
    41 minutes ago, balthazar said:

    Much like the stock over speculation, I think the takeover appeal of Tesla is overstated 

    I think the takeover appeal of Tesla goes up if they can elbow Elon out of the driver seat.  Tesla has very good brand equity.

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    smk4565

    Apple should buy them but Elon isn’t going anywhere.  He has too much stock, unless they way over pay him for his shares.

    1 hour ago, Drew Dowdell said:

    I think the takeover appeal of Tesla goes up if they can elbow Elon out of the driver seat.  Tesla has very good brand equity.

    Their brand equity is soo good they can ship a car with different color door trim and get away with it.  If GM or Ford have a hood that is 2 mm off they get roasted.

    Side note, Doug Demuro says MBUX is better infotainment than Tesla’s.

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    balthazar

    DeMauro is a blackened, moldy jack o lantern rotting on the front porch in the burgeoning spring warmth of May.
    In other words; unappealing & worthless.

    Tesla is getting plenty of blowback for quality that's -at times- worse than anything GM or Ford ever produced. At least, I've never seen any report of a GM car with a cracking/splitting body structure (A-pillar). The bloom is mostly off the rose and sales have tanked HARD.

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    David
    5 hours ago, ocnblu said:

    Even my left-leaning U of PA radio station prominently mentioned "waning interest in Tesla cars" as one reason for Tesla's stock plunge.

    Would agree with this as their auto's are very dated in the looks department. 

    Yes they have leading edge tech in the power train, but the style is truly affected by public emotion and right now, what other OEMs have shown are exciting people more than Tesla at the moment is. 

    Tesla really needs a Style update, yet Musk implies they are running out of cash, so I doubt we will see much change.

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