GoPro down 6% after Apple camera patent published

|About: Apple Inc. (AAPL)|By:, SA News Editor

Apple (NASDAQ:AAPL) has been granted a patent (application filed in 2012) for a sports camera system that can be controlled using a phone or watch.

The camera can be mounted on/secured to various devices, such as a bike helmet, motorcycle handlebar, or surfboard. It would also feature a "mounted mode" that adjusts for vibrations.

Volatile GoPro (NASDAQ:GPRO) has sold off hard following the patent's publication. Dougherty, however, suggests taking the news in stride. "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."

GoPro's mobile apps support remote camera control. The company's product line also includes its $80 Wi-Fi-based Smart Remote.

Update (1:24PM ET): GoPro is now down 10%.