Apple’s Big Announcement In October 2020 Could Bring Attention Back To Tech Penny Stocks
Apple’s iPhone 12 launch event is today. Could that really have ramifications for certain penny stocks? Well, truthfully speaking, it might not have a direct impact but the increased sentiment surrounding certain technology penny stocks has already become noticeable. What had started as its annual iPhone event has now become a big day for product launches for the company. Apple Inc. (AAPL Stock Report), far from a penny stock, has actually pulled back during Tuesday’s morning session. Though shares have held a higher level of support compared to the last 3 weeks of trading.
What Can We Expect From Apple’s October Event?
Sifting through the mix of “leaks” and what we can confirm, there are a few areas of interest that sympathy traders might be looking into. This might include certain sensor systems, charging capabilities, and likely something to discuss when it comes to the app store.
When you think about penny stocks that could benefit from Apple Inc., you’ve got to think outside the box. It won’t just be things like semiconductors or companies that provide raw materials to make the phones. We could see expanded attention on companies that utilize Apple’s app store to access their clients. It in and of itself is a powerful access platform.
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Needless to say there’s a lot to take away from Apple’s event today. It has already gotten underway. Whether or not all penny stocks in tech benefit from the event or not is yet to be seen. However, there are several penny stocks to watch that have begun trending ahead of Apple’s October Event.
Tech Penny Stocks To Watch: MicroVision Inc. (NASDAQ: MVIS)
MicroVision Inc. (MVIS Stock Report) has been on our radar since mid-April. Since then, we’ve gotten to watch, first-hand, MVIS stock explosively rally. Not only did the penny stock move from under $0.40 to over $3.40, after pulling back in August, but it has also now mounted a strong recovery. While details from the company specifically are a bit cloudy, the excitement seems to focus on the company’s current portfolio of sensor and imaging products.
The company’s PicoP® scanning technology is its mini laser sensing and projected display solution. Based on MicroVision’s youtube page, the company has also focused on things like AI and augmented reality technology. There’s also lidar for automotive applications, and a concept for tabletop gaming.
Given the latest M&A speculation, however, this has become the main topic of discussion among traders. Most recently there was a proposal to increase the company’s authorized share count. Shareholders are being pushed to vote YES on increasing this figure with a goal of “helping with exploring strategic alternatives including the sale of the company.”
If you look at the company’s 8-K filing from last Friday, you’ll see the outcome of this vote. Shareholders were in favor of the increase. Now it’s important to see what comes next in the company’s history. There’ve been a few third-party opinion reports on the company but nothing yet from MicroVision directly.
Tech Penny Stocks To Watch: Blonder Tongue Laboratories Inc. (NYSEAMERICAN: BDR)
Blonder Tongue Laboratories Inc. (BDR Stock Report) has taken off on Tuesday thanks to some headlines of its own. However, with attention on new tech devices like the iPhone 12, it’s likely gaining a bit more attention thanks to its model focused on offering broadband solutions and digital signal development.
This morning, the company announced the US Patent and Trademark Office issued a patent, US10,805,660, for certain technologies within Blonder Tongue’s DOCSIS Data series of products.
“The DMM series of products are presently being deployed by telecommunications, cable television, and IP market distribution companies to receive, process, and distribute data, video, and audio content to enterprise locations such as hospitality, sports venues, healthcare, educational and financial institutions.”
According to Blonder Tongue, the solution can also accommodate the migration of wireline to wireless and subsequent wireless service upgrades by a replacement of certain modules. What’s more is that there were a slew of FORM 4s filed on October 13th. These showed another round of insider buying in BDR stock. Will today’s Apple event shed a brighter light on communications and technology providers?
Tech Penny Stocks To Watch: Moneygram International Inc. (NASDAQ: MGI)
Moneygram International Inc. (MGI Stock Report) is another one of the tech penny stocks to watch right now. The company has gone through an evolution over the last few years to meet the requirements of today’s digital world. It saw the expansion of the company into cryptocurrency options as well as new partnerships with larger outlets. The P2P payment and money-transfer company gave its latest update on September’s monthly performance.
MoneyGram delivered 161% year-over-year cross-border transaction growth for MoneyGram Online. This is its direct-to-consumer digital business and marked its 9th-consecutive month of triple-digit growth. The company also explained that it realized strong consumer demand for its leading mobile app and a full suite of leading digital capabilities available in over 75 countries. Here’s where the app store conversation could come into play. More ways of accessibility via pad, phone, watch, and more. Could this bring new opportunities for MoneyGram to gain more customers through ease of access?
“Over the past few months, we have continued to drive a phenomenal increase in monthly active users on our leading app, as our customers remain loyal to our unmatched user experience and continue to refer their friends and family to the trusted MoneyGram brand,” said Alex Holmes, MoneyGram Chairman, and CEO. “Our relentless focus on improving our customer-centric capabilities from product improvements to innovative customer acquisition campaigns and our loyalty program enables us to offer the most seamless cross-border P2P money transfer experience in the industry.”
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For companies like MoneyGram, COVID-19 might’ve actually helped build awareness around the company. Thanks to the rise of contactless payments, apps like MoneyGrams could stand out. Shares of MGI stock managed to climb over 14% during Tuesday’s early session.
