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.
Authorities say British man, a Florida man and a Florida teen hacked the Twitter accounts of prominent politicians, celebrities and technology moguls to scam people around the globe out of more than $100,000 in Bitcoin.
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.
New York City has over 6,000 high rise buildings and for the last 75 years most of the skyscrapers built were constructed with glass facades. This trend has continued in cities across the world like London, Moscow, and Shanghai. But over the years, the drawbacks have become more prominent. They may look like elegant symbols of modernity, but beyond that shimmer is a list of problems that has some leaders proposing bans. All that beauty comes at a price.
Four Big Tech CEOs are fending off accusations of stifling competition in front of a congressional panel that is investigating market dominance in the industry.
A ride-sharing scooter startup said Tuesday it is suspending operations in New York City after a second fatal crash in less than two weeks.
Plus.AI co-founder, Shawn Kerrigan, says the future of the trucking industry lies in autonomous technology. Kerrigan expects the industry to move into full autonomy by 2024.
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.
Amgen Foundation is doubling down on its support for virtual education platform Khan Academy with a $3 million grant.
The global pandemic is forcing a pullback by advertisers on Twitter, but it’s also led to an unprecedented surge of users.
Microsoft has developed technology to help the company on its road to carbon negative by 2030. Chief Environmental Officer, Lucas Joppa, said Microsoft looks to be the blueprint for other companies to reduce their carbon footprints.
