GoPro (GPRO) Shares Tank As Apple (AAPL) Secures Sports Camera Patent

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Shares of GoPro Inc (GPRO) hit a four month low on Tuesday after Apple (AAPL) was awarded a patent for a mountable sports camera that could possibly challenge action cameras made by GoPro, according to Patently Apple.

The patent, which specifically criticizes GoPro’s HD Hero2 digital cameras for creating “excessive wind resistance'” while mounted, and being “susceptible to damage” from vibrations, includes details about a camera system that can be mounted on bike helmets or the front of a surfboard, Apple said in an application filed with the U.S. Patents and Trademark Office.

Apple’s newly patented camera system can also be used under water to take pictures and record sounds (waterproofing is a given), according to the application.

Apple recently traded at $110.17, up 0.93%.

GoPro recently traded at $49.27, down 13.23%. With today’s plunge, GPRO shares are now down 45% since their high of $98.47 last October. Still, the stock is up more than 70% since its splashy IPO last June.

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