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.
Apple shares rose after-market after the company posted better than expected earnings and revenue for its latest quarter. The company sold fewer of its flagship iPhones but at a higher price, helping revenues top $53 billion. Sales from its services business, which includes its App Store, Apple Music, and iCloud rose 31 percent to $9.5 billion.
After losing $136 billion in market cap in less than a week, Facebook could look to its Instagram Stories platform to boost its slowing ad sales growth and improve its outlook, says Madison Malone Kircher, an associate editor at New York Magazine.
Senator Mark Warner of Virginia is leading the charge against big tech, but he may not accomplish much unless Democrats make major gains in midterm elections, according to Axios reporter David McCabe.
Morgan DeBaun, CEO of Blavity, a platform for black creativity, talks with Cheddar about a recent Series A funding worth about $6.5 million. DeBaun touches on the company's exponential growth and scaling with the help of Google and other digital platforms.
Natori Company's CEO Ken Natori sat down with Cheddar anchors for "Do Better With Cheddar" to discuss fashion retail in the age of Amazon's digital marketplace. Natori tells Cheddar his company has struck a healthy balance with the e-commerce giant.
Jeff Cripe, CEO and founder of in-car commerce company Cargo, tells Cheddar he thinks there's serious room for innovation in the transportation industry. He's partnered with Uber to allow drivers to sell products to passengers, something Cripe thinks may reinvent the experience for riders.
New details have emerged about Walmart's reported plans to develop a streaming service that can rival Netflix and Amazon. Sarah Nassauer, Reporter from The Wall Street Journal, gives Cheddar her timeline on this venture and predicts what type of viewer the service may target.
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Alex Betancourt, Sole North American competitor in the 2018 FIFA eWorld Cup, sat down with MLS's Senior Director of Properties and Cheddar anchors to discuss the challenges facing eSports--and the potential for e-games to triumph as The Grand Finale looms.
eSports are growing rapidly and fans are spending hours upon hours streaming their favorites. Pete Giorgio, Lead of U.S. Sports at Deloitte, explains the sudden growth in the industry and what more traditional leagues can learn from eSports.
