Shares of GoPro spiked to an intra-day high of 18.41, after a rumor hit newswires that Apple could take over the company.
“We believe an acquisition of GoPro would make sense for Apple; action cameras are uniquely positioned at the intersection of Apple’s smartphone, wearables, and multimedia offerings, ” Ives said in a note on December 10. “Additionally, GoPro’s new product cycles could open the door to areas where Apple’s competitors are investing heavily (e.g., drones, VR), and Cupertino has been playing catch up.
I am a shareholder of $GPRO down here and will remain long sub 20. With all the rage on drones and VR at CES, GPRO just makes sense here– regardless of a rumor.
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Now you regret selling it as part of the GARP?
Unfortunately, I am a bag holder of GPRO from a much higher share price, but I do think it will recover some with virtual reality being the next big thing. However, how many times are we going to hear the Apple buyout rumor and speculation? I just can’t imagine them pulling the trigger on them, even though they did buy Beats…
@Matt – take your extremely depleted investment in camera’s-on-a-stick and run for the hills.
How many years do u think that’ll take for potentially VR integration being a revenue generating idea for GPRO?
And as it is GPRO has a product that is niche at best. I bought one of their cameras and couldnt wait to give it to a friend who barely uses it. We are consumers and the product had no use when we had phones in our pockets with great cameras. Oh and if im not mistaken the camera doesnt even zoom.
I’ll ask again, what was the point of going public and raising funds in the capital market if your business strategy was to be bought out less than a year later?
I would hope a nice class action lawsuit comes of this. At some point the I-Banks need to pay for this crap too.
Old rumor. Won’t happen.
Rumor debunked 1-13-2015
http://money.cnn.com/2015/01/13/technology/gopro-apple-patent/index.html
Polaroid Cube
http://tinyurl.com/zc9p2le
The GPRO camera is ugly and will never fit into the Apple design landscape
Drones have their own camera systems
GPRO’s VR helmet looks ridiculous
MSFT, FB can flick GPRO away like a booger, designing their own VR camera system