Apple reportedly looking to buy Cobalt directly from miners. The metal is used in lithium-ion batteries in Apple's devices, but it can also power electric vehicles. Shares of Apple up half a percent on Wednesday. Inverse Technology Reporter Mike Brown explains how this move might help Apple further its dominance in the tech space.
"There's a race at the moment for supplies over the coming few years," says Brown. Electric vehicles use about 1,000 times as much Cobalt as smartphone devices.
"It would be the first time Apple secured its own Cobalt supply so it could help to re position itself as a company, rather than going to factory manufacturers that deal directly with suppliers itself," says Brown.
Catching you up on what you need to know on March 25, 2022, with Ukrainian forces retaking Kyiv, 300 deaths reported from the bombing of a theater used as a shelter in Mariupol, U.S. regulators ditch a climate review of natural gas projects, the 94th Academy Awards, and more.
Chinese electric vehicle maker, Xpeng, just announced it's jacking up the price of its EVs due to the cost of raw materials on the rise. Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions, joins Cheddar News to discuss.
The rise of 'ghost guns' is the fastest growing gun safety problem in our country, as four recent shootings involved a 'ghost gun.' David Pucino, deputy chief counsel at Giffords Law Center to Prevent Gun Violence, joins Cheddar News to discuss.
Jesse Coors-Blankenship and Gregg Hill, general partners at Parkway VC, joined Cheddar News' Closing Bell, where they say they decided to invest in Sandbox AQ because the Alphabet spinoff is 'one of the most important companies of the century' with a team carrying strong knowledge of A.I. and quantum tech.
