Free Trial

General Motors hires former Apple exec to run software unit

Customers shop in an Apple store in Pittsburgh Jan. 30, 2023. Apple reports their earnings on Thursday, May 4. (AP Photo/Gene J. Puskar, File)

DETROIT (AP) — General Motors has hired a former high-ranking executive at Apple to run a new software organization at the automaker.

Mike Abbott is joining GM as executive vice president of software on May 22, the Detroit manufacturer said Tuesday. He'll report directly to CEO Mary Barra.

Abbott formerly was vice president of engineering for Apple's cloud services division, leading a team that developed infrastructure for all of the company's cloud-based services including iCloud, iMessage, mail and account security, GM said. He also was a partner at investment firm Kleiner Perkins Caufield & Byers, focusing on the mobile device and cloud computing areas.

GM and other automakers are looking to software as a major revenue source in the future as fleet and other buyers seek vehicle diagnostic systems, partially automated driving software and other services.

Should You Invest $1,000 in General Motors Right Now?

Before you consider General Motors, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and General Motors wasn't on the list.

While General Motors currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Best High-Yield Dividend Stocks for 2025 Cover

Discover the 10 Best High-Yield Dividend Stocks for 2025 and secure reliable income in uncertain markets. Download the report now to identify top dividend payers and avoid common yield traps.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

5 Blowout Earnings Winners That Could Soar Even Higher
5 Stocks You’ve Never Heard Of That I’m Buying Nonstop in 2025
3 Sectors With Massive Momentum You Can’t Afford to Miss

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines