Apple (AAPL) is in talks with EV maker Rivian (RIVN) about a possible partnership, DigiTimes reported Monday night. Rivian stock jumped while Apple edged higher.
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Taiwan-based Digitimes cited supply chain sources. But it’s unclear what any such alliance would entail. Apple canceled its long-running “Project Titan” Apple Car in late February.
It’s unclear if there are actual talks. Even if true, talks needn’t amount to anything.
Apple is holding a “Let Loose” event on Tuesday morning that is expected to focus on new iPads.
Rivian reports first-quarter earnings Tuesday night.
Apple, Rivian Stock
Apple stock rose a fraction early Tuesday after dipping 0.9% to 181.71 in Monday’s trading. Shares gapped up 6% on Friday following better-than-expected quarterly earnings and a $110 billion buyback.
Rivian stock jumped nearly 8% in premarket trading, signaling a move above its 50-day line. Shares rose 2.6% on Monday to 10.33. RIVN hit a record low last month.
Rivian had a market cap of just $10.1 billion as of Monday’s close.
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Jessica Roberts is a seasoned business writer who deciphers the intricacies of the corporate world. With a focus on finance and entrepreneurship, she provides readers with valuable insights into market trends, startup innovations, and economic developments.
