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.
Democratic lawmakers are calling for Congress to rein in Big Tech, possibly forcing Facebook, Google, Amazon, and Apple to break up their businesses.
Julie Samuels, executive director at Tech: NY, joined Cheddar to discuss the COVID NY Alert app that will be used for contact tracing in New York.
Tim Kendall, CEO of Moment and former Pinterest president, joined Cheddar to discuss the harrowing effects of social media use and how "big social's" methods are harming users.
Lee Brown, VP and global head of advertising business at Spotify, joined Cheddar to provide some insight into what exactly Gen Z is looking for.
Data analytics giant, Palantir, has made its debut on the NYSE. David Glazer, CFO, joined Cheddar to discuss opening day and company's success and vision for profitability.
A small air leak at the International Space Station has finally been traced to the Russian side, following a middle-of-the-night search by astronauts.
Pinterest CRO, Jon Kaplan, joined Cheddar to discuss the surge in activity on the app amid the pandemic. Kaplan also talks new features coming to the social media app.
Activist, Erin Brockovich joined Cheddar to advocate for 911 operators to be classified as first responders and address problems plaguing the water supply in U.S. communities.
A federal judge has halted a ban on TikTok's U.S. operations until at least November 12th when President Trump called for a complete ban of the social media platform. Cheddar's Michelle Castillo reports on the turbulent timeline of Trump's intervention with the social media app.
Kyle Malady, chief technology officer at Verizon, joined Cheddar to discuss the new MEC technology that he said would allow the development of "new and exciting products."
