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.
Raymond Wong, senior tech correspondent at Mashable, shares his thoughts on Apple's new iPhone XS, XS Max, and XR.
Shares of Tilray, the Canadian cannabis company, popped 50 percent Wednesday after the DEA cleared the way for its cannabis imports as part of a clinical trial. Those trials are the backbone of Tilray's strategy, said Bethany Gomez, director of research at Brightfield Group. As more countries permit medical marijuana research, Tilray is putting itself in pole position.
These are the headlines you Need 2 Know.
The popular courier service recently secured $300 million worth of funding at a $1.2 billion valuation. Kristin Schaefer, SVP of finance and strategy at Postmates, said that the company is eyeing next year for an IPO.
Apple appears to have dodged a bullet with the latest round of tariffs on Chinese imports. But if the trade war continues, the risks to the company get more serious, said Tom Forte, senior research analyst at D.A. Davidson. Apple currently gets 20 percent of its revenue from China
Elon Musk and SpaceX announced the company's first private passenger, Japanese billionaire Yusaku Maezawa. Shannon Stirone, freelance science journalist, said that this is the first step to Musk's ultimate goal ー transporting people to Mars.
Shortly after Audi unveiled its first all-electric SUV, the company announced a collaboration with Amazon and that its home services division will install charging stations at owners' homes for around $1,000. Filip Brabec, VP of product management for Audi of America, said Amazon's vetting of electricians and its "hassle-free" approach is what prompted the partnership.
China retaliated to the latest round of tariffs announced by the Trump administration, announcing import taxes on $60 billion in U.S. goods. That came after the White House said it would impose tariffs on $200 billion of Chinese goods, though many of Apple's products will be exempt.
TripAdvisor is redesigning its site in order to compete with Google and Facebook The site now allows for more collaboration between users, encouraging people to post articles and videos from their trips. CEO Steve Kaufer said that the redesign puts the focus on reaching travelers before they've made trip decisions.
Salesforce co-founder Marc Benioff and his wife Lynne are buying Time Magazine from Meredith for $190 million. Amazon is investigating its employees for allegedly taking bribes in exchange for confidential information. And we sit down with the cast of 'American Dresser' to hear about the upcoming film that centers around two friends taking a cross-country motorcycle trip.
