Tesla Inc (NASDAQ: TSLA) needs lots of new office space for its employees. Serendipitously, Apple Inc. (NASDAQ: AAPL) is in the process of moving thousands of its new employees to a new campus.
Movin' On Up
In a research report Thursday, Trip Chowdhry of Global Equities Research stated Tesla will start occupying Apple's Cupertino offices in 2018 after Apple movies its 12,000 employees from Cupertino and Sunnyvale to its new campus called Apple Park.
In fact, Chowdhry noted that Tesla's Palo Alto offices are overcrowded and overgrown its capacity by a factor of four. Tesla's employees even need to park their cars in the nearby VMware, Inc. (NYSE: VMW) campus.
Related Link: Why One Analyst Is Gaining Confidence In Tesla's Potential For Profitability
Tesla is expected to shift the following departments to Cupertino:
The following departments will likely remain in Palo Alto:
Tesla Is The Future
Chowdhry reiterated his prior belief that the social media trend has come to an end, and companies like Tesla represent the future. Specifically, companies that boast solid innovation, solid technologies, solid processes while implementing industrial sciences, material sciences, process sciences and computer sciences represents the future.
"Gimmickry innovation is over — I friend you — I poke you — I like you — I comment you [...] etc is over," Chowdhry emphasized.
Image Credit: Joe Ravi [CC BY-SA 3.0], via Wikimedia Commons
Latest Ratings for AAPL
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Jan 2017 | Barclays | Downgrades | Overweight | Equal-Weight |
| Jan 2017 | OTR Global | Downgrades | Negative | |
| Jan 2017 | Guggenheim | Initiates Coverage On | Buy |
View More Analyst Ratings for AAPL
View the Latest Analyst Ratings
See more from Benzinga
- Tesla: The Good, The Bad And The Skepticism
- Tesla's CFO Steps Down, Will Be Replaced With Company's Ex-CFO
- Investing In Tesla Is A 'Giant Call Option' On Elon Musk
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.