Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shareholders of Harman International
So what: Although Harman is predominantly known for its high-end audio systems, it does make in-car navigation systems for Audi and Mercedes. Apple's announcement today could be trouble for Harman, as it plans to use its clout and Nuance Communications'
Now what: While today's news isn't good by any means, I don't see it as a backbreaker for Harman. The majority of Harman's revenue comes from its audio products, and there are few in the business that consistently receive such high marks for their audio products as Harman. The company that should be quaking in its boots is Garmin, which will lose even more GPS opportunities if Apple hooks up with car manufacturers prior to their hitting the lots.
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