By Yasin Ebrahim
Investing.com - Apple (NASDAQ:AAPL) surged to near record highs Thursday, as the tech giant is reportedly accelerating plans to develop its electric vehicle after reaching a key milestone.
Apple was up more than 2.6% to near its all-time high of $157.87.
The company recently reached a key milestone in developing the car’s underlying self-driving system, Bloomberg reported, citing people familiar with the situation. The chip would be used in the first generation of the car.
Apple is internally targeting a launch of its self-driving car in four years, faster than the five- to seven-year timeline that some engineers had been planning for earlier this year, according to the report.