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Energous Corp (WATT) Enjoys Massive Surge Ahead of iPhone 7 Event

In a year where the S&P 500 Index has gained less than 7% amid market-crushing factors from the Brexit to the oil rout, you’d be hard-pressed to find a stock with double-digit gains. Yet, Energous Corp (NASDAQ:WATT) shares have more than doubled since the start of 2016, with 10% of those gains coming Monday morning … on pure speculation.

downloadThat speculation happens to coincide with the invites sent out by Apple Inc. (NASDAQ:AAPL) to its September iPhone 7 event. It’s expected (read: hoped) that the new iPhone will use Energous’ wireless technology.

Energous: The iPhone 7 Connection

For those unfamiliar, Energous Corp is the developer of the RF-based charging technology, WattUp. Completely wireless, WattUp charges through the air “via a contained energy pocket.” Rumors stretching as far back as the first few months of the year have pegged WattUp to Apple’s new devices.

Bloomberg reported that Apple is looking into wireless charging at a distance, where you can walk around with your phone or device throughout your home or office while it charges.

Disruptive Tech Research’s Louis Basenese believes Apple is working with a partner on such technology, but doesn’t provide proof that the partner is indeed Energous.

But it’s not like WATT has done much to downplay such a partnership, as the company announced it had secured a contract with a “tier one consumer electronics company.” And Energous CEO Stephen Rizzone told Reuters back in April that the company “(has) more interest from major consumer electronic companies, ODM, OEM and silicon companies than (it) can support.”

Bottom Line on WATT Stock

Clearly WATT stock is tied to the speculation that its technology will appear in a wide range of devices — possibly even in the new slate of bands from Fitbit Inc (NYSE:FIT) this holiday — as WATT shares spiked on the heavy demand for health and fitness wearables seen in Best Buy Co Inc (NYSE:BBY) earnings last week.

However, the bear camp is extensive, with 19% of the company’s float sold short. Ahead of the iPhone 7 event, some people remain adamant that the next iPhone will not have Energous’ wireless charging:

$WATT zero chance the next iphone has wireless charging from Energous. GUAR AN TEED

— Craig Stenson (@sokernstuf) Aug. 29 at 12:30 PM

On the chance that Apple does reveal its next iPhone to use Energous tech, expect WATT stock to see one heck of a short squeeze. At the very least, this sounds like the kind of iPhone wireless technology even Steve Wozniak can get on board with.

As of this writing, John Kilhefner did not hold a position in any of the aforementioned securities. 

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Article printed from InvestorPlace Media, https://investorplace.com/2016/08/watt-stock-energous-wattup-apple-aapl-fitbit-fit/.

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