My understanding is that it's one of the few markets left that can move the needle. The biggest markets are health care, finance, petroleum, consumer electronics, and automotive.
PCs and phones are low-margin capital intensive businesses. Apple seems pretty good at commanding high margins in such industries.
As for why Apple doesn't license their tech, well, that's not how Apple operates, because then they lose control over the experience. ROKR and the like.
Apple has an easy way to move the needle, return it's profits to shareholders as dividends. They can produce better returns that way then dumping it into lesser businesses.
Apple has made great margins in PCs and Phones because it refused to use commodity operating systems. It's not clear that there is any similar advantage in cars. Everyone will be making autonomous cars, the markets will be highly competitive and they'll still require massive capital investments to make. It's unlikely customers will pay up much for a slightly better autonomous system.
If Apple wanted to go into cars, they should buy Porshe or Ferrari. They actually have brands that make their products difficult or impossible to copy well. Porsche in particular sells cares that are super highly engineered in every area, Apple can't create a Porsche like car business by selling an autonomous car by doing autonomous great, but ride, handling, acceleration, etc just acceptably
PCs and phones are low-margin capital intensive businesses. Apple seems pretty good at commanding high margins in such industries.
As for why Apple doesn't license their tech, well, that's not how Apple operates, because then they lose control over the experience. ROKR and the like.