Apple's smart home play, EV stocks fall, and Elon Musk's X bleeds users: Tech news roundup

Bernard Arnault, who the Bloomberg Billionaires Index says is the world’s fifth-richest man, is suing Elon Musk, which the index pegs as the richest. The dispute between the two involves an accusation that one of Musk’s companies, the social media platform X (TSLA), republished content from a number of press outlets owned by Arnault.

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Electric vehicle stocks are falling Thursday after a report detailed the incoming Trump administration’s plans to axe a tax credit for consumers buying cleaner cars.

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Elon Musk may have helped Donald Trump win the U.S. presidential election — but one of his companies is facing post-election losses.

The billionaire’s social media platform, X, formerly known as Twitter, set a U.S. web traffic record while also seeing its largest wave of deactivations on the day after the election, according to data from digital market intelligence company Similarweb. The company has been tracking deactivations on X since Musk took over the platform, and “Wednesday is the biggest exit we’ve seen over the last couple of years,” David Carr, an editor at Similarweb (SMWB), told Quartz.

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Tesla (TSLA) stock has been on a tear lately, reaching a $1 trillion market capitalization. The company is now bigger than a solid chunk of other major auto companies — combined.

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Tesla (TSLA) is riding President-elect Donald Trump’s return to the White House to a giant stock surge. That has one of its biggest bulls declaring a “new era” for Elon Musk’s automaker.

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Apple (AAPL) is working on a smart home device to compete with rivals Amazon (AMZN) and Google (GOOGL).

Bloomberg, citing unnamed sources familiar with Apple’s plans, reports that the iPhone maker is developing what will be a wall-mounted home “command center” that will be able to control appliances, call up Apple’s voice assistant Siri, and carry out video calls.

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