Apple power attack on Uber app

US computer group Apple Inc. announced on Thursday evening that invested one billion dollars in Didi Chuxing, the Chinese equivalent of transport application Uber, Reuters.

This investment comes on the same day that Apple stock ticker fell to its lowest level in two years, so Alphabet, parent company Google has become the company with the highest market capitalization in the world. Apple shares finished the session down 2.35% at $ 90.34, which gives the group a total value of 494.8 billion dollars, while Alphabet has a market value of 499.9 billion dollars, write Agerpres.
"We are making this strategic investment for several reasons, including the chance to learn more about certain segments of the Chinese market," said director of Apple, Tim Cook.
Chuxing Didi, Didi Kuaidi previously known, controls 87% of the market of transport services by type car-hailing from China. The company claims to have 300 million users who daily carried over 11 million passengers through its platform.
Analysts believe that this investment offers a clue as to how Apple could diversify business and given that iPhone sales are stagnating. Apple wants to increase revenues from services like Apple Music and Apple Pay payments Modi, a strategy that an investment in a ride-sharing company seems to confirm it, says Patrick Moorhead, analyst at Moor Insights & Strategy.
Meanwhile, investors are carefully monitoring to see if Apple will enter the automotive business. Apple has employed a wide range of automotive experts and a number of sources said that the group considering building an autonomous car. This given that automakers and tech companies form new alliances and cross-investments. Recently, General Motors bought technology company in the automotive sector and also Automation Cruise took a stake in the company for ride-sharing Lyft.