Forget the iWatch or the iPhone Lite. Recent speculations were quietly confirmed that Apple's next big move is the development of technology for the automobile.

According to an earnings call yesterday, Apple's chief executive officer Tim Cook stated that Apple is indeed planning to venture into the automobile platform. He said that it is crucial for the company to build something for cars.

"It's something that people want, and I think that Apple can do this in a unique way and better than anyone else. So it's a key focus for us," said the tech titan's head. "Having something in the automobile is very, very important," Cook said.

Last month in a developer's conference, Apple confirmed that they will be developing an operating system inside the car. Rumors included integrating iTunes, iMessage, Siri, and other Apple patents to the automobile system.

Analysts compared the current automobile industry to the pre-iPhone smartphone market. Consumers thought that search systems and navigation features were existent but expensive. With the launch of the iPhone, the features became accessible and widely accepted. Financial analysts predict that automobile firms may do well with integrating with tech companies such as Apple due to the increased consumer interest in 'smart' technology.