OpenTable’s stock drops after Apple mentions ‘restaurant’ in patent application
News of an Apple patent dealing with restaurant orders and reservations sent OpenTable's stock down by 3.51 percent this morning. OpenTable is the leading player in online food reservations, and investors clearly (and quickly) grew worried about the idea of Apple encroaching on its territory. Patently Apple was first to report on the filing, which is titled “Systems and Methods for Processing Orders and Reservations Using an Electronic Device.” In fact, Patently Apple went so far as to brazenly declare that Apple had invented its own restaurant reservation system. That's a headline that could understandably cause some unrest among OpenTable's backers.
Leave a Reply
You must be logged in to post a comment.