Set your Apple Watch for 2020 because Bloomberg reports that the company has been secretly working on a car to be produced in as few as five years. Sources, though of course not tight-lipped Apple itself, have confirmed recent rumors that have been a kind of tech blog super fuel.

The Cupertino-based company raked in a record profit of $18 billion last quarter and has $178 billion in spending cash, and now it looks like this is what they'll be doing with a lot of it. The move also means Apple is entering a race against companies like Google, which is already working on a self-driving car in Detroit, and others like Tesla and maybe even Uber and who knows who else disrupting the car. Of course, there's no precise word on whether the vehicle will indeed drive itself, but don't be naive, this is 2020 and of course it will. Let's just hope the thing relies on Google maps.

The move follows Apple's strategic history of entering product markets as competition begins to ramp up. That's been the case from mp3 players to phones, with the kicker being a highly desirable product that's learned from the mistakes of others on the market. Get ready for Sir Jonathan Paul Ive to say the word revolutionary a lot and prepare to not read lots of thoughts on what Steve Jobs would say about all this.

Previously: Google's Self-Driving Car Is Already Being Built In Detroit