E*TRADE Generation Trader: FitBit's Position in Wearable Tech
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.
Artificial intelligence is revolutionizing how people work, including in creative industries. The famous Tribeca Film Festival featured some projects recently that used A.I. that some filmmakers say make it more creative. Cheddar News took a peek at some of those films.
The Department of Energy and several other federal agencies were compromised in a Russian cyber-extortion gang's global hack of a file-transfer program popular with corporations and governments, but the impact was not expected to be great, Homeland Security officials said Thursday.
Rivian is expanding into New York City and launching its first showroom there. Cheddar News took a look at the showroom in NYC that the company is calling "spaces," which is intended to be experiential retail locations to woo new customers.
