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Fitbit Stock Falls After Apple's Keynote By, Will Matar

According to Apple, The Apple Watch is now the number one watch. Apple held its annual keynote on Sep. 12, 2018. They released a variety of products, but the announcement of Fitbit’s competitor, The Apple Watch Series four, was the catalyst that sent Fitbit stock down. According to MarketWatch, Fitbit’s stock was down nearly 6 percent while apple’s stock rose .006 percent midday during the announcement. “Fitbit shares closed 6.9%, or 41 cents, lower at $5.53” Cnet wrote.

Photo by Apple.com

Apple’s new watch has a variety of innovative features. However, some more important ones to note with regards to the ‘Fitbit v.s Apple Watch’ battle are the health features. Apple’s new watch has improved fitness capabilities, with better tracking, new workouts and most importantly, an FDA approved Electrocardiography (EKG). “The electrocardiogram (ECG or EKG) is a diagnostic tool that is routinely used to assess the electrical and muscular functions of the heart,” Emedicinehealth.com wrote. Before the Apple Watch, an EKG had to be performed by a proper technician at a doctor’s office or hospital. In response to Apple’s announcement of their new watch, fitbit has released a new healthcare platform.

Photo from New York Stock Exchange

Members of the Staples community use both the Apple products and Fitbit products. Even though Zachary De Brino '19 uses all apple products he still acknowledges the benefits of the Fitbit. "Fitbit alone is a very good product especially for someone who is interested solely in fitness. [. . .] It has great fitness stuff especially with the Apple Watch Series 4 and the EKG that it can now take. That offers a lot of health information for customers" De Brino said. "Overall, on Apple I'm a very big supporter.” However, some members of the staples community disagree. "I think the Fitbit is much more simple than the Apple Watch" Violet Cooper '21 said.

Photo by Will Matar

Many reviewers are calling it the best piece of technology. “The best smartwatch gets better” Verge reporter Dieter Bohn wrote. There’s a “battle for smartwatch supremacy,” Wearable.com said. This battle causes companies to lose and make money in shifting tides. “Since 2010, Fitbit has sold about 76 million devices worldwide, and has over 25 million active users” said Statista. They have continued to grow their range of products as well as the net worth of the company.

Tags: Technology, Apple, Fitbit, Health, Finance

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Photo by Will Matar

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