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.
Shares of Facebook plunged Thursday after its latest earnings report. But Jefferies analyst Brent Thill tells Cheddar the company won't suffer in the long term, particularly because Europe's new data rules are "great hygiene" to work out the kinks.
President Trump accused Twitter of so-called "shadow banning" high-profile Republicans from the platform. Twitter has said that, while some users appear to not be showing up in auto-fill search results, down-ranking the results has been based solely on user behavior, not on their political leaning.
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The venture capitalist and husband of Serena Williams was one of the first investors in Coinbase. He told Cheddar he's staying away from the more speculative ICOs and instead investing in the "picks and shovels" that provide fundamental support for the long-term viability of cryptocurrencies.
AT&T announced this week it will bring 5G capabilities to Charlotte and Raleigh, North Carolina and Oklahoma City by the end of 2018. Melissa Arnoldi, President of Technology and Operations at AT&T, says building in these locations may help close the rural-urban digital divide.
