Fitbit shares got crushed by the Apple Watch Series 4 announcement
Poor Fitbit. The company's stock price took a 7 percent hit after Apple unveiled its new health-focused and feature-packed Watch Series 4 Wednesday during the company's annual fall showcase, with the upgraded watch representing perhaps Apple's most aggressive push yet into the consumer health space.
The features in Apple's Watch 4, pricing for which starts at $399, include everything from the ability to do an electrocardiogram on yourself to a sensor that detects hard falls and even automatically calls 911. Shares of Fitbit, meanwhile, are down about 2 percent this year, with a Barron's report in the wake of Apple's event saying Fitbit still wants to make a name for itself as a peddler of compelling health apps for both consumers as well as employers and health care companies.
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Fitbit shares got crushed by the Apple Watch Series 4 announcement originally appeared on BGR.com on Thu, 13 Sep 2018 at 15:31:44 EDT. Please see our terms for use of feeds.