Home Breaking News AAPL Stock Price – Apple Inc. Stock Quote (U.S.: Nasdaq)

AAPL Stock Price – Apple Inc. Stock Quote (U.S.: Nasdaq)

35
SHARE


Analysts see Fitbit smartwatch gaining leadership in the sector

Shares of Fitbit Inc. were up 1% Tuesday morning, the day after the wearables company announced the launch of its smartwatch. Though Tuesday’s move was smaller than Monday’s intraday jump of up to 7%, analysts continue to see this product launch growing Fitbit’s revenues in 2018 and the future. Raymond James analysts said though the smartwatch is “less sleek and functional” than an Apple Watch , it has its advantages with its phoneless payment option, the launch of bluetooth headphones alongside the watch and an upcoming watch launch with Adidas. “Fitbit has an opportunity to essentially hold the smartwatch market position that has been vacated by Android given the poor quality and consumer acceptance of Androidwear smartwatches,” Raymond James analysts wrote. However, they note that the actual launch of watch will be the true test of success for this product, as launches of new products can often run into issues. Shares of Fitbit have gained 14% in the past month, while the S&P 500 has lost 1.5%.




Source link