Back to top

Why Does Google Want to Buy Fitbit?

Read MoreHide Full Article

Google’s parent company Alphabet GOOGL has reportedly made an offer to buy Fitbit FIT. Shares of FIT surged in the wake of the reports, and the stock closed up 30.5% on Monday.

Fitbit is best known for its fitness trackers and other wearable devices, but has struggled lately due to weak sales of its new lightweight watch. An Alphabet acquisition could give the company a much needed boost. As for the search giant, scooping up Fitbit would potentially help it become a bigger player in the wearables industry, and help Alphabet compete with Apple (AAPL - Free Report) in the health and fitness space.

Right now, Google does not make a smartwatch, but it licenses its Wear operating system to Fossil FOSL, LG LPL and other companies who manufacture wearables. Rumors of a Google-branded Pixel smartwatch have been floated for years, and could help pump up Alphabet’s hardware business.

Breakout Biotech Stocks with Triple-Digit Profit Potential

The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.

Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.

See these 7 breakthrough stocks now>>


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Apple Inc. (AAPL) - free report >>