I’m long SONO and like that’s it’s up today. But let’s be honest here. JP Morgan doesn’t know what the fuck they’re talking about. Apple isn’t buying shit. They will never spend their money to buy another company. They have so much money — they can do that shit themselves.
JPMorgan wrote that the category of smart home speakers were among the industries with “the most strategic value,” for Apple, “providing potential growth opportunities to leverage services over a wider installed base.”
Apple is “currently lagging competitors in the smart home category,” JPMorgan wrote, referring to the company’s HomePod product line. Sonos, in contrast, has a “differentiated position as a premium home speaker system relative to Amazon Alexa and Google Home,” along with “strong loyalty among current customers and [a] robust international presence.”
Do you sell on this news? Perhaps. I’m not, mainly because I’m complacent.If you enjoy the content at iBankCoin, please follow us on Twitter