If Apple were truly serious about building self-driving cars, they would buy one of the big 3 US auto manufacturers. It could buy all 3 with cash and still have one of the largest hoards of cash ever accumulated.
Over the decades I've noticed how businesses need to recognize and focus on their core competencies - if they don't, they die. Everything must feed that core, and undue distractions are lethal. Occasionally there's a need to pivot , which is deliberately stepping from one competency to another, but that is rare and difficult. Apple's core is to build small computers; everything else they do (music, video, cloud servi…
http://www.berkshirehathaway.com/letters/1989.html
Apple doesn't build small computers. They design consumer technology.
Someone else builds it.
They need to avoid institutional imperative by finding something other than small computers, which is facing stiff competition from emerging markets.
Before they just made laptops and desktops. Then handhelds. Now watches and tablets.
That's three non-trivial pivots from what someone in 1999 might call Apple's "core" business.
Sometimes something just seems too much and so you back down. But they necessarily have to keep looking.