Small-Cap Stocks for the New iPad
Yesterday, Apple (NASDAQ: AAPL) announced its new iPad model.
With Apple shares trading around $535 per share (up from a recent low near $360 last November), and a tremendous amount of hedge funds holding Apple shares long, there has become somewhat—as Doug Kass noted last night on CNBC's Fast Money—a mania surrounding Apple.
Still, the company has incredibly strong financials, and if the iPhone 4S's launch was any indication, there should be long lines at Apple stores across the world for the new device when it hits stores late next week.
Traders looking to play some small-caps off the new iPad might take a look at the following companies:
OmniVision (NASDAQ: OVTI) is trading up nearly 2% on the session. The company's camera technology may be powering the new iPad's cameras. OmniVision's stock may see a further pop if it is found that OmniVision is, in fact, a supplier for the new iPad.
Neonode (OTC: NEON) trades over the counter and has a market-cap of just over $100 million. That might put it out of the consideration of many traders. Still, there is increasing speculation that the company may have a valid patent dispute with Apple.
Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.