Fitbit Isn't Being Destroyed By The Apple Watch [Seeking Alpha]
Apple Inc. (AAPL)
Last apple inc. earnings: 4/30 04:30 pm
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Source: Seeking Alpha
Summary Since the launch of the Apple ( AAPL ) Watch 4 series, Fitbit ( FIT ) has headed south. The market is incredibly worried that the fitness tracking leader can't compete in a market involving Apple. My previous research highlighted why Fitbit can compete with Apple and the recent results of new product releases are very supportive of that thesis. Image Source: Fitbit.com Crushed The Apple Watch 4 series was announced on September 12 when Fitbit was trading closer to $6. In less than a month, the stock was down to the lows prior to the Q3 earnings on fears that Apple will crush any reason for consumers to purchase Fitbit devices. At $5, Fitbit has an insane market valuation of only $1.2 billion. The stock hadn't traded this low since back in May prior to the release of a couple of successful product launches. A lot of the data does support Apple controlling the wearables market. The Q2 numbers were horrible for Fitbit from thi
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