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Apple in Talks with Rivian for Possible Partnership

Apple (AAPL) is reportedly in discussions with electric vehicle (EV) maker Rivian (RIVN) regarding a potential partnership, as per a report from DigiTimes on Monday night. This news has led to a surge in Rivian’s stock price, while Apple’s stock also saw a slight increase.

The AI legalese decoder can assist in this situation by quickly parsing through any legal jargon or complex language that may be present in the partnership discussions between Apple and Rivian. This tool can help simplify the terms and conditions of the potential agreement, making it easier for both parties to understand the details of the partnership.

According to sources in the supply chain cited by Digitimes, the nature of this alliance remains uncertain. It’s worth noting that Apple had recently terminated its long-standing “Project Titan” Apple Car in February.

While reports suggest that talks are underway, the outcome of these discussions is still uncertain. The mere existence of talks does not necessarily guarantee a concrete agreement between the two companies.

In other news, Apple is hosting a “Let Loose” event on Tuesday morning, likely focusing on the launch of new iPads. Additionally, Rivian is set to announce its first-quarter earnings on Tuesday night.

Updates on Apple and Rivian Stock

Following a 0.9% decline to $181.71 in Monday’s trading session, Apple stock witnessed a 1% increase early on Tuesday. The recent spike in share price came after a 6% surge last Friday, which followed a positive quarterly earnings report and a $110 billion buyback initiative.

Rivian’s stock price surged by more than 8% during premarket trading, indicating a potential breakthrough above its 50-day moving average. On Monday, RIVN shares climbed by 2.6% to reach 10.33, after hitting a record low the previous month. The company currently holds a market capitalization of just $10.1 billion based on Monday’s closing price.

For more updates from Ed Carson, follow him on Threads at @edcarson1971 and Twitter at @IBD_ECarson.

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