Zagg rides Apple's coattails to success
The accessory maker has seen shares jump higher lately.
Zagg makes protective coverings and other accessories for consumer electronic devices under the brand names invisibleShield, ZAGGaudio and ZAGGskins. Many of those accessories are designed for iPhones and iPads, putting Zagg in the enviable position of being subtly attached to Apple's fortunes.
Better still for Zagg, because the new versions of the iPad and iPhone look similar to their predecessors, very little work has to be done to meet Apple's recent releases.
Zagg seems to get ignored by investors, but it absolutely deserves a good look. It is being recommended right now by many analysts and commentators. The company is scheduled to announce first-quarter earnings on May 3. Some analysts are expecting earnings of 14 cents per share, but others are forecasting higher.
This is a company closely linked with Apple, and Apple isn't going anywhere in a hurry. Zagg closed Friday up 2.5% to $12.29.
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The company, headed for an IPO later this year, is worth as much as 10 Tesla Motors combined, says Bernstein's Carlos Kirjner.
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