Rivian’s $38,000 Loss per Q1 Vehicle Amidst Apple Partnership Speculation: Impact on Cryptocurrency (RIVN)

• Rivian Automotive (RIVN) reports a worse-than-expected loss in Q1, losing over $38,000 per vehicle.
• Speculation arises about a potential partnership between Apple (AAPL) and the EV startup.
• Rivian’s stock sees a slight fall after initial gains on Tuesday.

Rivian Automotive’s Q1 results show a significant loss per vehicle, sparking concerns amongst investors. Meanwhile, rumors of a potential partnership with tech giant Apple fuel market speculation.

Rivian’s Q1 Results

Rivian reported a loss of $1.24 per share in Q1, a slight decrease from a $1.25 loss a year ago. Despite this, revenue increased by over 80% to $1.204 billion, exceeding analysts’ predictions. However, the company lost $38,784 per vehicle delivered in Q1, a figure that has raised eyebrows in the financial world. Despite this, Rivian remains confident in its path to achieving modest gross profit by the end of the year.

Potential Partnership with Apple