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.
These are the headlines you Need 2 Know.
Adrian Lovett, president and CEO of the non-profit Web Foundation, told Cheddar's Alex Heath why the rate of people getting online for the first time is becoming stagnant.
Services aren't just for tech companies ー retailers are also latching onto the recurring revenue trend. And for industry vet Office Depot, the services model promises serious growth. "We are not a retailer, we are an omni-channel company," Office Depot CEO Gerry Smith told Cheddar, underscoring the importance of services revenue and Office Depot's business-to-business division.
Microsoft will continue to provide technology to U.S. agencies and the military, despite the objections raised by employees over how the products are being used, specifically with regard to immigration and border control. "We will be proactive in using our voice," said Microsoft President Brad Smith, speaking to Cheddar from the 2018 Web Summit in Lisbon, Portugal. "We think we'll be more persuasive if we're engaged than if we withdraw."
These are the headlines you Need 2 Know.
Political fixer-turned VC Bradley Tusk doesn't think it's sufficient to just bring voters to the polls ー he wants to bring the polls to them. "We know, fundamentally, democracy works when a lot of people vote, and it really doesn't work when very few people vote," Tusk told Cheddar on Tuesday.
Incoming Intuit CEO Sasan Goodarzi, currently the company's EVP of small business, tells Cheddar that the software company plans to lean on its open platform and innovations in artificial intelligence to put more money in the pockets of its customers. "There is not enough we could do for our customers," Goodarzi said Tuesday.
Cheddar's Tanaya Macheel breaks down the crypto wallet firm Blockchain's newest ventures, including its giveaway of $125 million in tokens.
It's midterms day in America! After a whopping 36 million people voted early, many are predicting record voter turnout for this midterms election. Rapper Fat Joe joins Cheddar to talk about his efforts to get young voters to the polls as part of MTVs '+1 The Vote' campaign. And, we dig into reports that Amazon is splitting its second headquarters, also known as HQ2, between two different cities.
Alexis Ohanian and Garry Tan spoke with Cheddar's Alex Heath from the Web Summit in Lisbon, Portugal about what they both look at before seeding a company. It all comes down to software.
