Home entertainment and smart speakers’ manufacturers became a lot, even Google, Amazon, and Apple jumped onto this bandwagon while pushing smaller brands to embrace net losses through several years. Therefore Sonos, JBL, Panasonic, and others have slow growths in their revenues while earnings have serious impacts. Very soon Sonos might be bought by a giant that is interested in penetrating the market.
Despite this awful reality NASDAQ: SONO surges approximately by 15% because of Citron’s prediction that “it is time for Apple to acquire Sonos”.
In weeks or days, Apple’s opponents may try to buy Sonos for serious money. Hence, SONO might soar by multiple folds as it is still cheaper for masses who are searching for quick returns.
New products’ launch of Sonos is a hint for future growth in revenue but its counterparts are not sleeping and may soon launch more attractive models for the smart home category.