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Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

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Tim Cook Just Gave Another Tantalizing Hint About the Apple Car

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TIME
TIME
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TIME
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February 27, 2016, 9:29 AM ET
File photo of Apple Chief Executive Officer Tim Cook at an event for students to learn to write computer code at the Apple store in the Manhattan borough of New York
Apple Chief Executive Officer Tim Cook speaks during an event for students to learn to write computer code at the Apple store in the Manhattan borough of New York in this December 9, 2015 file photo. Apple Chief Executive Officer Cook said his company opposed a demand from a U.S. judge to help the FBI break into an iPhone recovered from one of the San Bernardino shooters. Cook said that the demand threatened the security of Apple's customers and had "implications far beyond the legal case at hand." REUTERS/Carlo Allegri/Files TPX IMAGES OF THE DAYCARLO ALLEGRI - REUTERS

The extent of Apple’s ambitions in the automobile market have taken centerstage—previously occupied by rumblings of a tablet or television set—in the canon of long-running rumors about the company’s future plans. CEO Tim Cook again addressed the issue Feb. 26 during the company’s annual shareholder’s meeting in Cupertino, Calif. Asked about the potential for an iCar of sorts, Business Insider reported he said:

Do you remember when you were a kid, and Christmas Eve, it was so exciting, you weren’t sure what was going to be downstairs? Well, it’s going to be Christmas Eve for a while.

Before answering, Cook kidded his questioner “maybe I should have called on someone else.”

In a recent interview with Fortune, he addressed the spate of hires in the car space many have taken as confirmation of the firm’s interest in challenging locals Google (GOOG) and Tesla, not to mention potential competitors in Detroit. “The great thing about being here is we’re curious people. We explore technologies, and we explore products,” Cook said. “And we’re always thinking about ways that Apple can make great products that people love, that help them in some way. And we don’t go into very many categories, as you know. We edit very much. We talk about a lot of things and do fewer. We debate many things and do a lot fewer.”

Tesla CEO Elon Musk has called Apple’s plans around building a car an “open secret,” something Apple itself has never confirmed. Reports about the project, supposedly called “Project Titan” internally, claim that some 600 employees are attached. Steve Zadesky, the executive many think in charge of Titan, recently left the company.

This article was originally published on Time.com

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