Energous Corporation (Nasdaq: WATT)
In January of 2017, the U.S. Patent Office rejected a patent challenge and shares of Energous Corporation (Nasdaq:WATT) rocketed – shortly reaching all-time highs. Today the shares are down over 8% on news that the newest Apple Inc. (NASDAQ:AAPL) may include wireless recharching in a future iPhone model utilizing a chip solution developed by Broadcom Limited (NASDAQ:AVGO) and dealing a potential blow to future Energous sales.
Energous Corporation (Nasdaq:WATT)is the developer of WattUp®—a wire-free charging technology that Energous hopes will transform the way consumers and industries charge and power electronic devices at home, in the office, in the car and beyond. WattUp is a radio frequency (RF) based charging solution that delivers intelligent, scalable power via radio bands, similar to a Wi-Fi router. WattUp differs from other wireless charging systems in that it delivers power at a distance, to multiple devices – thus resulting in a wire-free experience that saves users from having to plug in their devices.
Energous Corporation (Nasdaq:WATT)closed yesterday at $16.78 and gapped down to open at $15.12 on double the normal daily average volumes. Broadcom Limited (NASDAQ:AVGO), an $83 billion company, ended yesterday at $208.18 and gapped up to open at $209.00 – currently AVGO is trading up about 1% on average volumes.
The unknow factor, and key issue, is Apple’s perception of the risks involved with wireless charging given the issues that Samsung has experienced.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.