GoPro (GPRO) Weak as Apple (AAPL) Encroaches on Turf, Analyst Weighs In

Dougherty & Co analyst Charles Anderson weighed in on GoPro (NASDAQ: GPRO) Tuesday amid reports detailing a patent Apple (NASDAQ: AAPL) was granted today that details a camera system controlled by a remote control on devices such as a smartwatch.

According to Anderson, "The patent itself (filed in March 2012) describes a GoPro HERO 2 as presenting an inadequate experience of recording in rugged conditions and goes on to describe a capture system Apple believes is superior -- specifically the invention of a "mounted mode" that accounts for vibrations in recording."

He also notes, "In the filing, Apple does detail drawings of a mounted camera controlled by an Apple Watch-type device. There are pictures of an old Kodak PlaySport as the camera being described. Apple did acquire a patent from Kodak that has been incorporated into the filing."

Commenting on the implications, Anderson said, "For starters, we note that Apple patents many, many inventions and some small percentage tend to see the light of day as an actual product. More than anything, we see a scenario in which Apple will want to have a way for users to record from their iPhones and iPads remotely using the Apple Watch as a remote. This is a good patent for that."

For an analyst ratings summary and ratings history on GoPro click here. For more ratings news on GoPro click here.

Shares of GoPro closed at $56.78 yesterday.

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