Tech: Google Scoops Up Fitbit

Industry Focus

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4.6 • 854 Ratings

🗓️ 1 November 2019

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Shares of Fitbit spiked this week after the company announced Google was buying the wearables maker for $2.1B. The acquisition marks a turning point in Google's approach to the wearables market, we explain what it could mean and hit recent earnings from Apple.Stocks: FIT, GOOG, GOOGL, AAPL

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0:00.0	Welcome to Industry Focus. The podcast that dives into a different sector of the stock market every day.
0:07.0	It's Friday, November 1st and we're talking about a big deal in Consumer Tech.
0:11.0	I'm your host, Dylan Lewis, and I've got Fool. com's Evan New with me on Skype.
0:16.0	Evan what's going on man?
0:18.0	We had a winter storm here this week so it is very cold.
0:22.0	It was like a balmy Halloween over in DC. I almost pulled out the
0:26.3	shorts when I was giving out candy. It was just it was it was warm and then we got
0:30.8	hit with a storm and it got cold but yeah I'm not really sure when the fall is going to come here, man.
0:35.0	Yeah, kind of threw off my week
0:38.0	because the, you know, the kids' schools were kind of like flip-flopping
0:41.0	on, are they gonna be delayed, or they're gonna be open, are they gonna be delayed if they're gonna be open
0:43.5	they're gonna be closed it was just kind of a mess this week you know what did not
0:47.6	throw off my week haven't what's that the news that Google is buying Fitbit.
0:52.8	I love it when news comes in as we're planning a show
0:56.6	and we can incorporate it without having to wait a week
0:59.6	to hit it next week.
1:01.4	So just this morning, we got word that Google Parent
1:04.8	Alphabet will be buying Fitbit. There had been speculation earlier in the
1:08.4	week. We were probably going to be doing this show anyways, but now we have
1:11.2	some firm details to work with.
1:13.0	Yeah, there were some reports this week that Google had made an offer but there were...
1:17.0	They didn't say how much, which is obviously kind of a big deal.
	...

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