UPDATE: Smith Micro Software Rises Sharply on Apple Deal Chatter
UPDATE: After this article was originally posted, a Smith Micro Software spokesperson officially denied plans for the company's "Push-to-Talk" service to be included on Apple's iOS 6.
Smith Micro Software (NASDAQ: SMSI) rose more than 13% today on rumors that its "Push-to-Talk" service will be included on Apple's (NASDAQ: AAPL) iOS 6, the new operating system for iPhone's and iPads. Apple CEO Tim Cook is speaking today at the company's Worldwide Developers Conference (WWDC).
According to Smith Micro Software's website, the "Push-to-Talk" service facilitates conference calling, tracking previous calls and managing contacts. A contract to licence or sell this service to Apple could be very significant for Smith Micro Software, given its approximate $65 million market capitalization.
Year to date, Smith Micro Software is trading more than 60% higher.
Disclosure: At the time of this writing, I did not own shares of any companies mentioned in this post.
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