Fitbit was an early leader in the world of wearables. Its colorful, clip-on trackers took the fitness world by storm, attracting everyone from weekend warriors to frequent walkers, each looking to count their steps and calories burned.
Since the launch of Apple Watch, however, the brand has struggled. The tech giant has chipped away at the smartwatch market — it currently holds about 50 percent — and converted many Fitbit fans into Apple Watch loyalists.
But things may soon change in the tracker space. Alphabet is reportedly in talks to acquire Fitbit, which sent Fitbit shares up more than 30 percent in a single day.
While the buy would bring fresh life to the tracking brand, Fitbit customers may have concerns over privacy, wondering just how much data they're forking over to Alphabet. Fans of Apple, moreover, likely won't jump back over to Fitbit if they're already converts to the Apple Watch.
Still, if Alphabet can bring on the innovation, it may be able to draw in new Fitbit fans, making the purchase a good step.
In other Wall Street news, Lululemon almost had too good of a year. In order for its stock to stay this strong, it's going to have to be "flawless," according to one analyst. That's a tall order, considering the fickleness of the wellness customer. We predict a good year for the athleisure company. But flawless? Unlikely.
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