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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.
Craving more input? Start by adding Harman International to your free and personalized watchlist so you can keep up on the latest news with the company.
Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.
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