Rumors have been swirling for a year that the “top tier consumer electronics company” Energous says it’s working with is Apple. Such a partnership may exist, but Energous’s over-the-air charging tech will not appear in the iPhone 8, says a very bearish report yesterday from the (anonymous) analysts at Copperfield Research.
The analysts make no secret of their skepticism of Energous’s “WattUp” technology, or their short position on the Energous stock. And their clients who shorted the stock made money today. Energous stock closed down 14% on the NASDAQ today.
The main thrust of the report titled “Game Over” is a series of Apple patents protecting its own flavor of a competing wireless charging technology—inductive charging. As for the rumored Apple partnership, Copperfield says it may exist, but it doesn’t include development money from Apple: “WATTS’s [Energous’s] science project has been a free R&D project for Apple.” Ouch.