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Image for article titled Apple killed its car, got snubbed by Goldman, backtracked on iPhone apps, and was fined $2 billion

Picture: Carlos Barria (Reuters)

It’s been a stop-start decade for Apple’s electrical automotive dream: swirling rumors, hires and layoffs, acquisitions, and doubt. Lastly, although, this previous week, it emerged that Apple will put the project out of its misery.

By itself, this is able to be vital however not existential. Tech firms enterprise into after which retreat from new fields on a regular basis. And whereas Apple sunk billions into its EV undertaking, it’s actually an organization that has the cash to spare. Final summer season, Apple reported sitting on a pile of just about $167 billion in money — one of many largest such stashes round. Nevertheless it’s an odd second for Apple. The cancellation of its EV is the third prong in a trifecta of — properly, not failure maybe, however actually not the roaring success it has change into accustomed to.

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