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.
The South Korean company reports that profits are likely down more than half of what they were at the same time last year.
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.
These are the headlines you Need 2 Know for Friday, July 5, 2019.
Companies like Nordsense, Ecube, and Bigbelly wager that public bins can serve as highly-efficient, environmentally-friendly, networked devices for our future smart cities, producing data on trash that has never before been available.
Tesla delivered 95,200 vehicles in the second quarter ー nearly double what it delivered in the second quarter of 2018. The production beat was a sliver of good news in an otherwise bad first half of the year for the company.
'Stranger Things' is everywhere as more brands are jumping on the supernatural trend. Coca-Cola, Tide, and Baskin-Robbins are just a few to team up with Netflix. The streaming service has avoided advertising for years, but are they ready to cash in on the opportunity? Cheddar senior reporter Michelle Castillo breaks it all down.
Tuesday was supposed to be a day to show off an iconic American company doubling down on its domestic manufacturing. Instead, it became another flash point in America's new culture wars.
Gabe Hoffman of Accipiter Capital Management doesn't believe Tesla can right the ship even if Elon Musk delivers on some of the numbers he promised.
Apple’s long-time chief design officer Jony Ive, the mind behind products like the iMac, the iPod, and the iPhone, is leaving the Cupertino-based tech giant to start his own independent design firm, LoveFrom.
*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.*
