apple,-rivian-reportedly-in-talks-for-partnership

Apple, Rivian Reportedly In Talks For Partnership

Business

Apple (AAPL) is in talks with EV maker Rivian (RIVN) about a possible partnership, DigiTimes reported Monday night.

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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.

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 dipped 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 climbed 2.6% to 10.33, hitting resistance at its long-sliding 50-day line. Shares hit a record low last month.

Rivian has a market cap of just $10 billion.

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