September 20, 2015 / 9:25 PM / in 2 years

GoPro shares could fall due strong competition: Barron's

(Reuters) - U.S. video camera maker GoPro Inc (GPRO.O) shares could plunge to $25 from a recent $35 as its latest product launch underwhelms consumers and competition comes on strong, Barron’s said in a report on Sunday.

A GoPro Hero 3+ camera is seen at the Nasdaq Market Site before before GoPro Inc's IPO in New York City, June 26, 2014. REUTERS/Mike Segar

Barron’s said investors in GoPro are “skittish” about the company’s ability to ward off competition from Apple Inc APPL.O, which has upgraded the camera on its iPhone to produce more high resolution video.

Officials at GoPro declined to comment. The company did not comment to Barron’s on its report.

Although some analysts think Apple could be an acquirer of GoPro, Vertical Group, an independent research firm mentioned in the Barron’s report, said Apple has “ample resources to build the product in-house.”

Regarding Vertical’s take on a potential Apple buyout of GoPro, Jon Lopez, Vertical’s research head, said in the Barron’s report: “I would ascribe zero percent chance.”

Reporting by Scott DiSavino; Editing by Chizu Nomiyama

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