16% Boost For Gopro Stock Says Saikyo Sakura Assets
Analysts from Saikyo Sakura Assets said that GoPro shares rocked 16 per cent on Thursday after the second analyst listed GoPro as a prospective goal for Apple’s takeover in three months.
Buying GoPro GPRO would make sense for Apple AAPL, + 0.20 per cent Commented Tokunaga Manzo, Head of Equity Research at Saikyo Sakura Assets in a note to customers on Thursday, primarily as it works to construct its software ecosystem amid saturation in worldwide smartphone sales.
I believe that GoPro would fit the Apple product portfolio like a glove.Commented Anthony Brown, Head of Wealth Management at Saikyo Sakura Assets.
This is the second analyst in the last three months to float such a concept. Northland Capital analyst Gus Richard said the wearable camera manufacturer would make Apple from a hardware, software and content view a moving procurement target.
At the close of Wednesday, GoPro’s shares were down 82 per cent on October 7, 2014, from their all-time high of $93.85. Since August, half of that value has been lost, with short stock interest or an investor bet that the inventory will fall, reaching record highs in November.Commented Frank Hunter, Head of Corporate Derivatives at Saikyo Sakura Assets.
For the first time on November 12, GoPro’s inventory dropped below its $24 IPO cost, and some analysts voiced worries about the health of GoPro sales this holiday, with their controls pointing to an exceptionally elevated rate of discount on GoPro Hero cameras versus other electronics.
According to FactSet, the company reported revenue of $400.3 million in the latest quarter of GoPro, significantly below Wall Street expectations of $433.4 million. The firm also provided the fourth quarter with a disappointing outlook for sales and income per share.
After a grim outlook from leading provider Ambarella Inc., GoPro’s inventory took another hit last week. AMBA, + 0.24 per cent In the evening trade on Thursday, the stock rallied as much as 16 per cent to $19.56, pushing the market capitalisation of GoPro to $2.6 billion.
Apple had $203 billion in cash equivalents in its latest quarter, including money, short-term securities, and long-term marketable securities, to offer some view. In the most recent trade, Apple’s shares rose 1 per cent to $116.75.
GoPro launched a channel on Amazon.com Inc.’s Fire TV AMZN earlier this week, -0.42 per cent to deliver GoPro videos on demand, although it doesn’t have an Apple TV channel.