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.
Online shopping giant Amazon is buying MGM, the movie and TV studio behind James Bond, "Legally Blonde" and "Shark Tank."
Apple CEO Tim Cook described the company’s ironclad control over its mobile app store as the best way to serve and protect iPhone users, but faced tough questions about competition issues from a judge.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Amazon says it will extend its ban on police use of its face-recognition technology beyond the one-year pause it announced last year.
China has landed a spacecraft on Mars for the first time in the latest step forward for its ambitious space program.
U.S. telecom giant AT&T Inc. is combining its WarnerMedia operations with Discovery Inc.
Cheddar explains why some European countries are building new bicycle superhighways and how it'll transform their transportation landscape.
A once-ambitious Facebook-backed digital currency project — formerly known as Libra, now called Diem — is shifting operations from Switzerland to the U.S.
Electric car maker Tesla will stop accepting Bitcoin as a payment. That's according to a tweet Wednesday from CEO Elon Musk, who cited environmental concerns surrounding the cryptocurrency.
Mattio Communications CEO and founder Rosie Mattio talks about why Clubhouse has taken off among cannabis industry insiders.
