Per a TechCrunch report, Apple Inc (NASDAQ:AAPL) has acquired InVisage Technology, the startup behind QuantumFilm technology. The acquisition is likely to have been completed almost a month back.
TechCrunch noted that many InVisage tech employees have stated on their LinkedIn (NYSE:LNKD) accounts that they now work for Apple. The report added that several people connected to InVisage were contacted who conveyed that “they were not at liberty to discuss the acquisition, but in doing so also inadvertently confirmed that it took place.”
Why Is Apple Interested in QuantumFilm Tech?
Founded in 2006, InVisage is a startup that specializes in developing image sensors. Its QuantumFilm technology as described by InVisage “is a photosensitive layer that relies on InVisage’s newly invented class of materials to absorb light; specifically, the new material is made up of quantum dots, nanoparticles that can be dispersed to form a grid once they are synthesized. Just like paint, this dispersion of solid materials can be coated onto a substrate and allowed to dry.”
Apple Inc. Price
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In short, QuantumFilm’s image sensors are designed to allow maximum “light sensing capability” compared with the conventional sensors.
Though Apple hasn’t disclosed the reason behind InVisage’s acquisition, its a no-brainer that the company will leverage this image sensor technology to make cameras on iPhones much better. The iPhone camera has always been a big draw for users.
Also, reportedly, this technology can help Apple improve its Face ID sensors. iPhone X is the first iPhone to use Face ID technology for phone unlocking.
Since Apple is now building several key components in-house like bionic chips in the latest phones as well a graphics processor, it is possible that the company might consider manufacturing image sensors, adds Business Insider.
Zacks Rank and Share Price Movement
At present, Apple carries a Zacks Rank #3 (Hold). Notably, the company has outperformed the industry in the past year. Shares of Apple have surged 62.2% compared with the industry’s 60% rally.
Stocks to Consider
Better-ranked stocks in the broader technology sector include NVIDIA Corporation (NASDAQ:NVDA) Applied Materials (NASDAQ:AMAT) , and Jabil Inc (NYSE:JBL) . All carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth rate for NVIDIA, Applied Materials and Jabil is currently projected to be 11.2%, 17.1% and 12%, respectively.
More Stock News: This Is Bigger than the iPhone!
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