Apple is in talks with EV maker Rivian about a possible partnership, DigiTimes reported Monday night. Rivian stock and Apple edged higher Tuesday morning.
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 held 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 0.4% Tuesday to 182.40 after dipping 0.9% in Monday's trading. Shares gapped up 6% on Friday following better-than-expected quarterly earnings and a $110 billion buyback.
Rivian stock popped at the open, but reversed to close down 0.8% at 10.25. That's just above its 50-day line. Shares rose 2.6% on Monday. RIVN hit a record low last month.
Rivian had a market cap of just $10 billion as of Tuesday'sclose.
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