FitBit is a pioneer in wearable technology. But the company has recently shifted its strategy amid competition from the Apple Watch, and as the wearable market has failed to really see mass adoption. Cheddar's Hope King and Brad Smith explore the company's performance using E*Trade's innovative platform. Adult wearable technology users in the U.S. is expected to grow nearly 12 percent this year, according to eMarketer. In a survey conducted by Cheddar, 18 percent said they own a FitBit compared to 27 percent who've said they own an Apple Watch. 47 percent of those surveyed by Cheddar say they don't wear any wearable technology. FitBit has had an up and down year, with shares ranging between $5 and $7 a share. Overall, shares are down 17 percent over the course of the past year. The company did introduce its first smartwatch in 2017, and is looking to directly compete against the Apple Watch at a similar price point. Shares also hit a 52-week high in December during the holiday shopping season. FitBit reports fourth quarter earnings after the Closing Bell Monday. Analysts expect revenue of nearly $590 Million, and to break even in profit.

Share:
More In Technology
BlockApps Raises $41 Million to Track Real Assets Through the Blockchain
Enterprise blockchain provider, BlockApps, recently raised $41 million in a new funding round led by Liberty City Ventures. BlockApps builds products and applications for other companies on its own blockchain platform called STRATO. The company says its blockchain technology can help businesses increase the value of their assets, streamline their supply chains, and help them meet their sustainability goals. Kieren James-Lubin, President & CEO of BlockApps, joins Cheddar News' Closing Bell to discuss.
Dan Ives Calls Tesla Numbers 'Cinderella-Like' in Face of Shanghai Shutdown
Tesla has continued to beat expectations as illustrated by its last quarter earnings despite issues in Shanghai, China. Dan Ives, the managing director of equity research at Wedbush Securities, joined Cheddar News to talk about the resilience of Tesla. "I thought they were almost Cinderella-like numbers," he said about the delivery numbers. "They are performing just miles ahead of any auto player, and that's why the stock is doing what it's doing. In my opinion, they're expanding their lead in EVs, even in this Category 5 hurricane that we're seeing in China." Ives noted that issues in China could pose ongoing challenges going forward even with the largely positive outlook.
Why Cultivated Meat is Critical to the Future of Space Travel
Dr. Neta Lavon, CTO and VP of R&D at Aleph Farms, joins Cheddar Innovates to discuss how the team sent cow cells to space to further research the production of meat in space, and why developing cultivated meat is so critical to the future of space travel.
AT&T CEO Talks Q1 Earnings, 5G Rollout, WarnerMedia Spinoff & the Metaverse
AT&T reported a 2.5 percent rise in its core wireless revenue for the first quarter as its 5G rollout expands across the United States, even as the company pivots away from streaming to focus on its communication business amid heightened demand for high-speed internet. CEO John Stankey joined Cheddar's Opening Bell to discuss the company's 5G plans, its divestment from WarnerMedia, and its push into the metaverse. "To the extent that we start to see social aspects come into the metaverse that allows people to — as they're out and about — experience those kinds of things, that just puts a higher premium on mobile networks and scaled robust mobile networks to enable those applications, which is our bread and butter, and it's probably one of our best returning and best yielding businesses," he said.
Load More