Apple's iOS 6 Moves Shares of Partner Companies (OPEN, FB, YELP)


Shutterstock photo

Earlier, Apple (NASDAQ: AAPL ) unveiled the next iteration of its mobile OS--iOS 6. The OS will ship later this fall.

While this announcement may portend the next model in Apple's iPhone lineup, for traders, the more interesting news may have been the effects that the new iOS had on stocks. Shares of Apple have traded about flat on the session, but several of Apple's announced partners have benefited from the deal with the tech giant.

Shares of OpenTable (NASDAQ: OPEN ) spiked sharply higher after Apple announced that the next version of Siri will be incorporate OpenTable's reservation service into its software. OpenTable spiked to near $45 before quickly correcting. As OpenTable has a particularly high short interest, the shift may have been driven by shorts covering.

Still, analysts at Benchmark think the move was justified. Benchmark's James Dobson told Benzinga, "We view the Apple partnership as another sign of OpenTable's incredibly strong position in NA. This marks the second high-profile integration within two weeks, the first being with Google+ and Zagat. These partnerships reinforce our thesis that NA competition is immaterial to performance and barrer's to entry in NA remain strong. Both of these partnerships are consumer facing, which should drive reservation revenue, OpenTable's highest-margin product."

Shares of Facebook (NASDAQ: FB ) also caught a bid, moving just slightly higher. Reports of Facebook integration with iOS6 have been floating around for awhile, but the official announcement may have served to seal the deal. Perhaps most interesting, Apple unveiled that its App Store will have integration with Facebook, allowing consumers to like apps. Shares of Facebook have since corrected on the session, as the broader market sold off into the close.

Yelp (NASDAQ: YELP ) will also receive iOS 6 integration. Shares were trading in the red on the session, but moved into positive territory briefly before correcting back.

Analyst Tom Forte at Telsey Advisory Group believes that the announcement was significant for Yelp. Forte believes that the OpenTable integration was less important, stating that it was only a "slight" positive.

Currently, shares of Apple are trading near $573. Apple's conference will continue for the rest of the week, but most of Apple's major announcements likely occurred today.

(c) 2012 Benzinga does not provide investment advice. All rights reserved.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing Investing Ideas
Referenced Stocks: AAPL , FB , OPEN , YELP

More from Benzinga




Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by