Why Luminar Shares Are Rising Today and What's Its Connection To Apple Car?

Anusuya Lahiri

Wed, May 25, 2022, 3:20 PM1 min read

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Luminar Technologies, Inc (NASDAQ: LAZR) roped in Christopher “CJ” Moore, a manager on Apple Inc’s (NASDAQ: AAPL) car project and a former director of Autopilot at Tesla Inc (NASDAQ: TSLA), to lead global software development, Bloomberg reports.
Moore, who had joined Apple in August, will lead Luminar’s software team to develop autonomous safety features integrated with its lidar or laser sensors.
Over the last two years, nearly the entire Apple Car management team has exited.
Earlier this month, Ian Goodfellow, another Apple project director, quit for Alphabet Inc’s (NASDAQ: GOOG) (NASDAQ: GOOGL) DeepMind.
Meanwhile, Apple attracted talents from Ford Motor Company (NYSE: F), Rivian Automotive, Inc (NASDAQ: RIVN), and other car industry players.
Price Action: LAZR shares traded higher by 8.91% at $9.23 on the last check Wednesday. AAPL shares traded higher by 0.76% at $141.43.
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