GoPro brings camera controls to Apple Watch, teases ‘Karma’ drone for 2016

13 Dec 2015 | Author: | No comments yet »

Ambarella up 6.2% as GoPro surges in wake of Apple speculation, drone video.

While it doesn’t give any indication of what the drone might look like, or how the camera is incorporated into its design, it does show the sort of footage future users might expect to achieve.On Thursday, GoPro updated its iOS app to integrate a new app for Apple Watch, turning the Watch into a remote control for the Wi-Fi equipped GoPro cameras.Buying GoPro GPRO, +11.49% whose stock has fallen 45% over the last few months amid record-high levels of short interest, would “make sense” for Apple AAPL, +0.48% said FBR & Co. analyst Dan Ives in a note to clients Thursday, particularly as it works to build its software ecosystem amid saturation in global smartphone sales.

Ambarella (NASDAQ:AMBA) is flying higher as GoPro posts a 13.3% gain following an FBR note that speculates Apple could buy the company, while declaring GoPro’s cameras are “uniquely positioned at the intersection of Apple’s smartphone, wearables, and multimedia offerings.” The Nasdaq is up 1%. You can now use the Apple Watch app to start or stop recording, adjust the settings on the GoPro, and tap to add a HiLight (basically a bookmark) to a certain section of video to make it easier to find in the editing room. Also: GoPro has announced its drone (1H16 ETA) will be known as the Karma, and released a teaser video (the drone itself isn’t pictured) to promote it. Prices on its newest camera got slashed, seemingly out of lack of interest, and the company’s stock price tumbled to new lows as Wall Street remained unconvinced that the brand had any new tricks up its sleeve.

In September, Northland Capital analyst Gus Richard said the wearable camera maker would make a “compelling acquisition target” for Apple from a hardware, software and content perspective. In addition to Apple Watch integration, the update also brought new features to the iOS app, like scrolling through video to find and save a specific frame as a still image. Half of that value has been lost since August, with short interest on the stock, or a bet by investors that the stock will fall, reaching record highs in November. The company has been quiet as to what its drone will look like, what it will do, or how it’ll be different from market leaders like DJI’s Phantom line of consumer drones.

The video is shown As the aerial footage follows a quad bike along a dusty open path, the narrator asks viewers to imagine viewing their ‘dream’ from any perspective. GoPro’s stock fell below its IPO price of $24 for the first time on Nov. 12, and some analysts have expressed concerns over the health of GoPro sales this holiday, with their checks pointing to an unusually high level of discounting on GoPro Hero cameras versus other electronics. Some camera drone users have found themselves in trouble using the cameras, as staff at the Royal Burgers’ Zoo in the Netherlands found when they attempted to fly a drone over the chimpanzee enclosure (see video above). In GoPro’s most recent quarter, the company reported revenue of $400.3 million, sharply below Wall Street expectations of $433.4 million, according to FactSet. With just about every person who likes doing extreme things on camera—or likes putting cameras on their pets—already seemingly in possession of a GoPro camera by now, the company will need new revenue streams if it’s going to have a big 2016.

Drones and virtual reality are likely going to be two big areas for the company to focus on in the coming year, but it remains to be seen if GoPro products beyond the company’s little rectangular cameras are better for anything besides buzz. It would also include hardware advancements in areas such as camera technology and drones, with GoPro releasing footage earlier of this week of its first drone, Karma, set to go on sale early in 2016. GoPro doubled down on Apple again on Thursday by announcing new features for the watch app that let users preview shots, toggle between capture modes, start and stop recording and add HiLight Tags, or digital bookmarks, from their wrist. Earlier this week, GoPro launched a channel on Inc.’s Fire TV AMZN, -0.37% to deliver on-demand GoPro videos, though it does not have a designated channel for Apple TV.

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