Home / FINANCE / JPMORGAN: Google holding on GoPro is indeed a good thing for a camera association (GPRO)

JPMORGAN: Google holding on GoPro is indeed a good thing for a camera association (GPRO)

google pixel 2 clipsMatt Weinberger/Business Insider

On Wednesday, Google announced a new “Clips” camera that looked an awful lot like GoPro’s tiny movement cameras. The proclamation sent GoPro’s shares down by about 13% in a dual days following, though JPMorgan researcher Paul Coster says a new competition is indeed a good thing.

“The batch looks quite constrained here overdue to a 2-day sell-off spurred by a introduction of Google Clips, a consumer-oriented constraint device that validates partial of GoPro’s market, competes peripherally, and differently seems to be going in a opposite direction,” Coster pronounced in a note to clients.

Coster pronounced that Google’s new camera looks a lot like GoPro’s cameras, though it doesn’t act like them. The camera is not meant to be wearable, isn’t water or dirt proof, lacks sound and is generally not designed to residence a needs of GoPro’s action-centric audience.

Coster pronounced a two-day selloff is artificial since of these incompatible aim markets and thinks a batch is generally appealing during a deflated price. That doesn’t meant GoPro should blow off a new camera, however.

“Two facilities of Google Clips should worry GoPro investors; a in-device appurtenance training capability, and a smartphone-based media-management and social-media formed pity facilities that promote video-based story-telling,” Coster wrote.

The AI smarts that permeated every product Google launched on Wednesday were benefaction in a Clips camera too. The camera’s AI systems watch for engaging moments to constraint and automatically shares those with your phone creation them easier to post on amicable media.

This proceed mirrors GoPro’s latest pull to make a camera some-more useful in a universe where everybody has a smartphone in their pocket. GoPro’s phone app automatically edits video from a cameras and creates it easy to share a clips on amicable media.

The association also is creating new use cases for a cameras by releasing program that creates modifying footage from a 360-degree camera easy and unique.

Coster pronounced that Google’s proceed to AI and amicable pity on Clips validates GoPro’s proceed and confirms that a association is forward of Apple and other companies operative on camera tech.

Coster rates GoPro a buy with a cost aim of $15. GoPro’s shares jumped 4.45% on Friday after Coster’s note was released.

Read some-more about GoPro’s program plan here…

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