Apple Rumored To Acquire GoPro

If you follow the markets you might have heard that GoPro stock has been taking a beating over the past couple of months. A slight surge was noticed once the company unveiled the name of its first drone but that really wasn’t enough to recover the share value that has already eroded. However one particular rumor has brought about a 16% spike in the action cam company’s shares, apparently some believe that Apple may want to acquire GoPro.

To be clear though nothing has been hinted by either GoPro or Apple that the two companies are even talking about a potential acquisition, Apple has not expressed any kind of interest yet publicly so do take this rumor with a healthy dose of salt for now.

The rumor comes from market analysts who believe that GoPro is a potential strategic acquisition target for Apple in the coming year, Daniel Ives of FBR Capital Markets and Co. research believes that acquiring GoPro will “make sense” for Apple as the action cam company will “fit like a glove into the Apple product portfolio.”

Investors appear to be excited by this possibility as the stock surged 16% soon after, GoPro shares are down over 80% from all-time high of $93.85 in October last year. Shares dipped below the IPO price of $24 for the first time last month.

Both companies have worked in the past as well, Apple Stores have stocked GoPro products, and the company as updated its offerings to support new products in Cupertino’s ecosystem like the Apple Watch, but would it really be beneficial for Apple to pick up this company? Let us know what you think by leaving a comment below.

Adnan Farooqui
Categories: General
Tags: gopro