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Nuance Communications Inc. (Nasdaq:NUAN) shares closed up 7 percent on Wednesday after an analyst said the company is expected to be Apple Inc.’s voice recognition partner for the next-generation iPhone.
The Burlington-based firm, maker of Dragon speech recognition software, saw shares rise to $19.55 on Wednesday following the report from Soleil Securities.
For Apple’s IOS 5.0 for the next-generation iPhone, Soleil wrote that it believes Apple’s partner for the phone’s voice recognition technology is Nuance.
“We believe that the depth of the Apple/Nuance relationship is far deeper than Wall Street realizes and will serve as a significant catalyst for the shares,” the firm wrote.
In November, Nuance shares jumped after Apple co-founder Steve Wozniak told a tech blog that Apple had acquired Nuance. The comments were dismissed as speculation by Nuance.
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