{"id":12183,"date":"2012-05-11T01:04:30","date_gmt":"2012-05-10T23:04:30","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=12183"},"modified":"2012-05-11T10:37:34","modified_gmt":"2012-05-11T08:37:34","slug":"apple-gives-audience-inc-a-share-boost","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/hardware\/12183\/apple-gives-audience-inc-a-share-boost\/","title":{"rendered":"Apple gives Audience Inc. a share boost"},"content":{"rendered":"

Shares of Audience Inc, which makes chips used in Apple Inc’s<\/a> iPhone, rose in debut, underlining investors’ appetite for technology stocks in a weak IPO market.<\/p>\n

Audience sells its products, which improve the voice quality in mobile devices by filtering out background noise, to Apple’s contract manufacturers like Foxconn International Holdings Ltd<\/a> and Protek Ltd.<\/p>\n

“It is an emotional spill-over effect … people are anticipating significant revenue from its links with the iPhone,” Francis Gaskins, president of IPO research site IPOdesktop.com said.<\/p>\n

Audience, which is backed by New Enterprise Associates, Vulcan Capital and Tallwood Venture Capital, relies on Apple and Samsung Electronics Co for the bulk of its revenue.<\/p>\n

The Mountain View, California-based company, had priced its shares at $17 each, above its expected range of between $14 and $16.<\/p>\n

Shares of the company, which has sold over 160 million chips since it began shipping in 2008, were up 13 percent at $19.25 in afternoon trade on the Nasdaq<\/a>.<\/p>\n

Technology IPOs have performed well so far this year, with the sector boasting of a significant 29 percent average first day return, according to IPO research firm Renaissance Capital.<\/p>\n

“It’s a continuation of the trend of technology companies showing high top line growth, increasing profits, low debts and brand name … and that has been the winning ingredient for the IPO participants,” Scott Sweet, senior managing partner at IPO research firm IPO Boutique said.<\/p>\n

Another market entrant, Western Asset Mortgage Capital Corp, a real estate investment trust, failed to garner enough investor interest in its market debut. Its shares were trading flat at $18.65 on the New York Stock Exchange<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Audience Inc, which makes chips used in Apple Inc’s iPhone, rose in debut, underlining investors’ appetite for technology stocks in a weak IPO market.<\/p>\n","protected":false},"author":7,"featured_media":8023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[25,51,2749,155],"class_list":["post-12183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hardware","tag-active","tag-apple","tag-audience-inc","tag-ipo"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/12183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=12183"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/12183\/revisions"}],"predecessor-version":[{"id":12218,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/12183\/revisions\/12218"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/8023"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=12183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=12183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=12183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}