Better Buy: Fitbit Vs. Apple
Fitbit Inc (NYSE:FIT) and Apple (NASDAQ:AAPL) may be two of the best known stocks in the wearable space. Fitbit broke through with its ubiquitous fitness trackers earlier in the decade, while Apple's own smartwatch was highly anticipated before it first launched in 2015.
However, that's where the similarities between the two companies end. Tech giant Apple is the most valuable company in the world with a market cap of $800 billion, and still relies on the iPhone for most of its sales and profits. Fitbit, on the other hand, is a pure-play wearable company worth a little more than $1 billion that has seen sales fall recently amid increasing competition in the industry and as smartwatches appear to be overtaking fitness trackers.
However, that's where the similarities between the two companies end. Tech giant Apple is the most valuable company in the world with a market cap of $800 billion, and still relies on the iPhone for most of its sales and profits. Fitbit, on the other hand, is a pure-play wearable company worth a little more than $1 billion that has seen sales fall recently amid increasing competition in the industry and as smartwatches appear to be overtaking fitness trackers.