Roku stock Rises as Speculation builds around a potential deal with Apple.

Roku stock jumped more than 7 percent Monday as speculation builds around a potential deal with Apple.

Roku’s jump added about $500 million to its market value, making it now worth $7.5 billion. For the last year, Roku’s shares are up 114 percent.

Roku CEO Anthony Wood was spotted on Apple’s campus in Cupertino, Calif. Monday, where Apple is expected to unveil its new streaming TV service. On face value, the service seems like it could compete with Roku’s own business, which offers smart TVs and other devices that let users stream over-the-top content. But Wood’s presence at the event suggests the two companies may be working together.

 

Apple has been in talks with Roku and other platforms about hosting its TV app, The Wall Street Journal reported, adding that these agreements are expected to be announced Monday.

Apple has previously opted to keep its services within its own ecosystem. But recently, it’s displayed more openness to working with other companies to distribute its technology. In November, for example, Apple partnered with Amazon to let Alexa control Apple Music on Echo devices. The move came after Apple’s own HomePod failed to drum up as much excitement as Amazon’s smart speaker.

Analysts will be closely watching Apple’s event at 1 p.m. Eastern to see if Roku will play a role in Apple’s new streaming service.

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