Ford Stock (NYSE:F) Faces Uncertainty as Apple Partnership Raises Control Concerns
DEARBORN,MI – Ford Motor Company (NYSE:F) is navigating a complex relationship with Apple,sparking questions about the future of vehicle control and potentially contributing to recent stock fluctuations. Ford CEO Jim Farley recently voiced concerns regarding Apple’s increasing influence within Ford vehicles, questioning the extent to which the tech giant should dictate vehicle functionality.
Farley, in a recent interview with The Verge, directly asked, “Are you going to allow OEMs to control the vehicles? How far do you want the Apple brand to go? Do you want the Apple brand to start the car? Do you want the apple brand to limit the speed? Do you want the Apple brand to limit access?”
Currently, Ford offers features leveraging Apple technology, including speed limiting and restricted access during certain times.however, analysts at TipRanks note that expanding Apple’s integration could create ”messy” complications. While Ford generally supports Apple’s involvement, reports indicate some disapproval of Apple’s “execution.”
The concerns arrive as Ford demonstrates resilience in other areas. During a recent NASCAR race at Kansas Speedway, Zane Smith’s Ford Number 38 sustained damage in a wreck but passed a subsequent track inspection with surprisingly positive results. Unlike typical post-wreck procedures requiring extensive analysis at the R&D Center, the car was deemed structurally sound and returned to Front Row Motorsports for repairs. This positive outcome offers a potential boost for Ford’s marketing efforts following a period of frequent recalls.
Despite these developments, Wall Street maintains a Hold consensus rating on F stock. Based on analyst ratings over the past three months – three Buys, eight Holds, and three Sells – the average F price target stands at $10.84 per share, suggesting a potential 11.37% downside risk after a 17.42% rally over the past year.
