Here's How GoPro Could Be Impacted By Apple's Entry Into The Mountable Camera Space

Shares of GoPro Inc GPRO took a big hit on Tuesday on news that Apple Inc. AAPL has received a patent approval for a wearable camera.

John Simons, business editor at International Business Times, was on CNBC Wednesday to talk about Apple’s patent and how when it comes to use will impact GoPro’s business.

"What we are talking about in terms of technology is very similar to many of the products GoPro has on the market right now," Simons said, "a camera that is mountable either on your body, on a bike helmet or on a bike or on any kind of equipment, adventure kind of equipment that you can think of."

"What’s different about Apple's patent, the company says, is that there's inside of this device some kind of technology that helps to adjust for the ‘shaky camera’ effect and reduces that effect in the device," Simons said.

How Will This Impact GoPro?

"Well it really could cut into GoPro’s market share quite a bit,” Simons replied. "GoPro is a company that is less than a year old on the sort of public market place as a public company. Their stock has fallen about nearly 50 percent since last fall and they have a pretty narrow product range. So, Apple needs to at some point, even though it's just a patent, Apple needs to at some point figure out this wearables market. So, it may come out with something that looks like a GoPro camera or it may introduce something that has this technology in it that we haven’t even thought of yet."

Shares of GoPro recently traded at $50.62, up 1.5 percent.