GoPro slides as Google announces its tiny Clips camera

GoPro shares fell by as much as 5% in trading on Wednesday as Google unveiled a tiny camera that could rival its lineup.

The Google Clips camera uses artificial intelligence to take pictures on its own of moments that its owners miss. It was announced along with a slate of other new products including a high-end laptop called Pixelbook and the Pixel 2.

Google’s camera will retail for $US249.

GoPro’s stock is down about 38% this year.

Get the latest GoPro stock price here.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.