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 $590 Million, and to break even in profit.
If you put together the sales generated from Black Friday, Cyber Monday, and Amazon's Prime Day in the U.S., it still would be less than the sales from Sunday's Singles Day shopping holiday in China.
These are the top stories, from Wall Street to Silicon Valley, that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Four years ago, Aziz “Hax$” Al-Yami was one of the best Super Smash Bros. Melee players in the world. But after suffering what he said felt like “an explosion” in his left wrist, Hax’s once-impressive tournament performances were marred by serious physical pain. So he found his own solution: a different type of controller. Hax talked to Cheddar Sports about his life-changing design.
Scott Belsky, the chief product officer at Adobe and author of 'The Messy Middle,' told Cheddar that good design now shapes how we use technology, on everything from new voice tech to augmented reality.
Astronaut Scott Kelly saw the sun rise and set about 32 times each day during the 520 total days he spent in outer space. He also spent considerable time looking at Planet Earth. Naturally, it changed his perspective ー in the most literal sense. Kelly shares that new perspective through images in his latest book, "Infinite Wonder: An Astronaut's Photographs from a Year in Space."
The internet can be a toxic place ー but it doesn't have to be, according to Deepak Chopra. The bestselling author and new age advocate is helping to build a healthier internet through a new Amazon Alexa skill that delivers his daily "intentions." The skill is a result of a partnership with A.I.-provider LivePerson's innovation lab, LivePerson Studios.
Credible.com is revamping how people refinance their mortgages ー in the time it takes to download an app. The platform has launched what it calls a modern mortgage marketplace, providing users with real-time rates from multiple lenders. Stephen Dash, founder and CEO of Credible.com, said it was time to rebuild the mortgage shopping and application process.
Shankar Chandran, managing director of Samsung Catalyst Fund, told Cheddar at the Web Summit that Samsung is always looking for the next "trillion-dollar opportunity." The gold rush in Silicon Valley is all about data and A.I. now, he said.
Photo-editing app VSCO has already hit 2 million paid subscribers after crossing the 1 million subscribers threshold just in the first quarter of 2018. “It’s really a testament to how consumer-driven we are,” VSCO CEO Joel Flory told Cheddar. VSCO charges $20 per year for its subscription, and the business is now operating at break-even, Flory said.
Disney unveiled the name of its streaming service, Disney +, and some we're less than impressed. Rich Greenfield, analyst at BTIG, said that may be just fine for Disney.
