Blockchain Foundry Inc. (CSE: BCFN)
Develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to leverage blockchain technology in their businesses.
Apple (NASDAQ:AAPL) should develop Apple Wallet into a crypto-exchange and add Bitcoin or another cryptocurrency to its balance sheet, says RBC analyst Mitch Steves.
Steves: “The wallet initiative appears to be a clear multi-billion dollar opportunity for the firm (potential for well over $40 billion in annual revenue with limited R&D).”
The analyst notes that Apple would immediately capture market share and offer improved security compared to other companies with the exchange mode, such as Square and PayPal.
Steves: “To put some numbers around this, Square generates ~$1.6B/qtr in bitcoin related revenue on an active install base that we estimate to be in the ~30M range. Apple’s install base is 1.5B and even if we assume only 200M users would transact, this is 6.66x larger than Square.”
Purchasing around $1B in Bitcoin (around 4 days of cash flow) would drive more users to Apple Exchange and boost Bitcoin prices, notes Steves.
The analyst assumes Apple with an Outperform rating and $171 price target.
Post updated with additional information from the analyst note.
Earlier today, Tesla announced investing $1.5B in Bitcoin, which sent the crypto past $42K again.
Vuzix (NASDAQ:VUZI) announces that research institute KDDI Research has developed hands-free nursing care support system employing Vuzix Smart Glasses.
The support system was developed in conjunction with Tokyo-based social welfare company Zenkokai.
“Healthcare opportunities continue to steadily expand for Vuzix around the globe and this smart nursing care support system developed by KDDI Research in conjunction with Zenkokai is yet another example of how using smart glasses can make a real difference in people’s lives,” says Vuzix CEO Paul Travers. “We look forward to working with KDDI Research in their effort to bring greater safety, efficiency and productivity to the nursing home industry.”
VUZI shares are up 4% to $12.98.
Last month, VUZI shares gained after announcing a Smart Glasses collaboration with Hippo Technologies.
Along with the release of its fiscal first-quarter earnings, Nuance Communications (NASDAQ:NUAN) has announced the acquisition of Saykara, a start-up focused on a mobile AI assistant to automate clinical documentation for physicians.
Saykara was founded in Seattle in 2015 by Harjinder Sandhu, a former executive from Nuance’s R&D division.
“The complementary technology built by the Saykara team aligns strongly with our technology portfolio and growth strategy as well as the needs of our clients,” says Nuance’s Joe Petro.
