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.
Facebook is developing a camera-equipped device, codenamed Ripley, that sits on top of a TV and features video calling along with entertainment services, according to sources. The company is also working an AR projector device and other far-flung projects like a brain-computer interface.
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Paul Allen, who co-founded Microsoft with Bill Gates and went on to become one of the country's most prolific philanthropists and technologists, died Monday at 65.
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The Palm brand seems to be so valuable that people can’t help but resurrect it. The latest incarnation from the 26-year-old computing brand launched Monday in the form of a credit card-sized mobile device.
Jason Browne, chief investment strategist at Fund-X, said it's still unclear if the market's activity over the last few days is a normal correction or if the economy is headed into a bear market. The Dow Industrials closed out the week rising as much as 400 points Friday morning, giving back all those gains, before finishing the day up more than a percent.
Despite the stock market's recent volatility, especially within the tech sector, cloud-based software company Anaplan had a strong showing during its first day of public trading. Frank Calderoni, CEO of Anaplan, said the company's reputation is what is resonating with investors right now.
Tom Forte, senior research analyst at D.A. Davidson, said Turtle Beach, which makes the headsets so popular with gamers, benefits from the huge popularity of Fortnite and could be an acquisition target for Microsoft. Shares, while down from their highs of the year, are still up 1,000 percent this year.
Venture capitalist Jenny Gyllander wants to help people understand exactly what her industry is all about. So she started an Instagram account called Thingtester, which reviews products from both a consumer and investor standpoint.
The Dow Industrials came out of the gate roaring Friday morning, but by midday had given back 400 points worth of gains and turned negative. By 1 pm, though, the index was back up triple digits.
