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Ives: Apple Should Consider Adding GoPro To Its Portfolio

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Talks of Apple Inc. (NASDAQ: AAPL) considering to acquire GoPro Inc (NASDAQ: GPRO) has been an added bonus to GoPro shares soaring 13 percent on Thursday. GoPro's market capitalization is now at $2.6 billion.

Just earlier this week, the company launched a new Amazon.com channel to deliver on-demand GoPro videos. GoPro has also been working to expand its live content with its acquisition of Vislink in January.

FBR & Co. analyst Dan Ives stated that GoPro would fit like a glove into the Apple product portfolio.

"We believe an acquisition of GoPro would make sense for Apple; action cameras are uniquely positioned at the intersection of Apple's smartphone, wearables, and multimedia offerings," Ives said in a note on Thursday. "Additionally, GoPro's new product cycles could open the door to areas where Apple's competitors are investing heavily (e.g., drones, VR), and Cupertino has been playing catch-up. We also see strategic value in GoPro being integrated with Apple's strong multimedia ecosystem (e.g., iTunes, Apple TV, etc.)."

Related Link: Apple's Christmas List? Adobe, Box, GoPro And Maybe Even Tesla

Ives also said buying GoPro, whose stock has fallen 45 percent over the last few months amid record-high levels of short interest, would "make sense" for Apple. The analyst suggested that the content produced by GoPro's amateur and professional users may also integrate well with Apple TV.

Apple had $203 billion in its most recent quarter in cash equivalents. This includes short-term and long-term marketable securities. Shares of Apple were up 1 percent to $116.75 on Thursday.

Latest Ratings for GPRO

DateFirmActionFromTo
May 2021Morgan StanleyMaintainsUnderweight
Feb 2021Morgan StanleyMaintainsUnderweight
Dec 2020Morgan StanleyMaintainsUnderweight

View More Analyst Ratings for GPRO
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