Fitbit’s design team also ran into problems making its smartwatch fully waterproof, even though that’s a key design element for the Apple Watch Series 2. Indeed, it’s still unclear as of the publication of this article whether the device will launch with the waterproof feature. If it isn’t waterproof, critics may perceive it to be an inferior product to Apple’s — especially given that the device will launch roughly a year after the Apple Watch Series 2.
Alex Lidow, pioneer in power semiconductors, shows how a novel antenna design could create surfaces capable of delivering hundreds of watts of power to multiple devices for wireless charging.
Fitbit has squandered its opportunities, failing to inspire new consumer interest and failing to develop a business with the healthcare companies, writes Stifel analyst Jim Duffy, and things won't get better in 2018, he predicts, as he cuts the stock to Sell from Hold.
Two weeks of not carrying an iPhone and using Apple's Apple Watch shows the promise of the smartwatch as a standalone communications device. But better battery life and improved cellular is needed for it to truly operate on its own reliably.
Shares of wearables pioneer Fitbit declined in late trading, despite better-than-expected quarterly results and outlook, as its sales of devices dropped by almost a third from the prior year.
Fitbit shares surged in late trading after it topped analysts' expectations, and said it would be at least in line with Wall Street's estimates this quarter, and raised the low end of its forecast for the full year, saying its production of a new smartwatch is ahead of schedule.
Fitbit's sales have struggled as the company failed to enhance fitness functions beyond basic step-counting. The expected debut of a general smartwatch from the company later this year will be a critical test of its ability to hold its own against Apple and Garmin, says Morgan Stanley.
Aegis Capital's Victor Anthony took an informal poll of a bunch of millennials and found they don't seem to be especially interested in "Spectacles," the glasses from Snap that can send short videos of what you're looking at. That could have an impact on Snap's revenue, he says.
As Apple sweats out the summer months in advance of the debut of what most presume will be the next iPhone, the products taking center stage are its peripherals, in particular its Apple Watch and AirPods, says Raymond James, and the forthcoming HomePod wireless speaker.
Apple unveiled its long-awaited competitor to Amazon's "Echo," called "HomePod," a speaker with newly engineered audio technologies and Apple's own processor, and the ability to respond to spoken commands and to control home automation technologies. The company also unveiled new iMac computers, MacBook laptops, new iPads, and updates to its MacOS, iOS, and WatchOS.
Analysts Charles Anderson of Dougherty & Co. writes that his observation of search trends on Google for Fitbit suggest a steep decline in interest in the product from a year ago, although the drop was a little less bad in May than it had been in April.
Analysts were heartened by Fitbit's Q1 beat on revenue and profit, and its remarks that it has been working down inventory of its fitness trackers, cleaning the way for new models later this year. The stock surged 14%. But the expectation of both bulls and bears is that what really matters is the unveiling of its first smartwatch, later this year, about which the company gave few details.
FitBit stock surged in late trading as it beat expectations for revenue and profit in the March-ending quarter, and forecast full-year revenue higher than consensus, even though its outlook for Q2 is a little lighter than expectations. CEO James Park was upbeat about the company's progress in reducing a build-up in inventory of FitBit products.
Shares of chip maker Integrated Device Technology, which is known for powering wireless charging of gadgets such as Apple's Apple Watch, initially enjoyed a nice bounce in late trading, after the company slightly beat fiscal Q4, but the outlook and remarks offered on the call later caused the shares to give up their gains.
Here are some things going on today in your world of tech: Shares of Verizon Communications (VZ) are down 87 cents, or 1.8%, at $48.07 after the company this morning reported Q1 revenue of $29.8 billion and EPS of 95 cents, missing consensus for $30.4 billion and 96 cents. Wireless revenue in the quarter dropped 5%, the company said, amidst “continued promotional activity." Shares of Apple (AAPL) are up $1.02, or 0.7%, at $141.70, after a report by DigiTimes’s Cage Chao and Jessie Shen yesterday suggested the company has put in orders for parts for the next iPhone(s) in excess of 50 million units per quarter, citing multiple unnamed industry sources.
Shares of fitness wearables pioneer Fitbit (FIT) are down 19 cents, or 3%, at $5.58, following a report this afternoon by Yahoo Finance's J.P. Mangalindan stating that the company has been having difficulties with the fabrication of its next smart watch product, including issues getting the GPS hardware working properly, citing multiple unnamed sources. Writes Mangalindan,
Here are some things going on today in your world of tech: Soggy start for Nasdaq, down 21.20 at 5,807.54. This morning brings another round of reviews of social network-cum-camera company Snap (SNAP), nine in total, with six of them being the equivalent of a Buy, and two Holds, and one Sell rating. The analysts all seem fairly certain of big user growth and big revenue growth, the big disparity with the bears is on stock valuation. Snap shares are up $1, or 4.4%, at $23.74. Shares of Alphabet (GOOGL) are down $2.27 at $832.87, as analysts continue to ponder the fallout from the scandal over YouTube advertising, as numerous big advertisers yanked their business after their spots were shown in front of video they deemed unacceptable.
Susquehanna Financial Group semiconductor analyst Christopher Rolland, who covers chip makers such as Broadcom (AVGO), Qualcomm (QCOM), which supplies parts to Apple (AAPL), today offers up some tidbits about the latter’s Apple Watch and iPhone, after recently taking a trip through Asia to chat with various parties in the supply chain there. On the matter of Apple Watch, Rolland is hearing the next version may sport its own cellular modem chip, to obviate the need for connections to the phone:
Andrew Murphy, part of the venture capital team assembled by former Piper Jaffray analyst Gene Munster, today cribbed a brief missive in praise of Apple’s (AAPL) wireless headphones, the $159 “AirPods,” released last fall, saying they are more important than Apple’s Apple Watch, and will sell more units than the Watch next year. The AirPod, writes Murphy, is an example of “hearables,” an emerging category of sound devices that take on extra functions, such as voice-driving commands. Another example of hearables, I would note, is privately held Bragi, which has offices in Germany, Illinois, and Hong Kong. Its wireless headset, the “Dash,” claims some capabilities that eliminate having to handle a smartphone, such as switching between music tracks. But it also has what the company considers “ambient computing.” For example, you can nod your head to accept an incoming call.
Wearable technology — smartwatches, smart clothing, “hearables,” and other gadgets — are soon going to “hyper-segment,” says research firm IDC in a press release today, something that will help the category achieve sales in 2021 more than double what they were last year. IDC predicts sales of 237.5 million units in various categories of wearables by 2021, the biggest bunch of which will still be smartwatches such as Apple’s (AAPL) Apple Watch, at 152 million; followed by “wrist band,” of which one expects Fitbit’s (FIT) fitness trackers to be a prime example, with 57.5 million shipments; and “Earwear,” of which wireless headphones from Bragi one expects will be main contender, at just 4.2 million units.
Following a note last night from smart eyeglasses maker Vuzix (VUZI) that the company had found deficiencies with its methods and controls for financial reporting, the company’s chief executive, Paul Travers, reached out to me via email to offer a clarification. The comments from Travers suggest the caution may be less serious than the language would imply. To hear Travers describe it, this is somewhat more like a proactive shift in accounting procedures, less of a discovery of fault. Here are Travers’s remarks in full: < p style="padding-left: 30px">Hi Tiernan,