The new Apple Watch may have just deflated Fitbit’s stock

Apple Announcements

The Apple Watch Series 4 was unveiled on Wednesday. 


James Martin/Techhnews

Not everyone is happy about Apple’s new watch.

Investors sent shares of Fitbit, which makes competing health trackers, almost 7 percent lower after the consumer electronics giant unveiled its latest Apple Watches on Wednesday. The stock drop suggests investors are concerned the features on the new smartwatches will entice consumers to Apple’s products over Fitbit’s.

Among the new features in the Apple Watch Series 4: the first consumer EKG test, a medical test used to detect heart disease. The EKG, also known as the ECG or electrocardiogram, checks the electrical activity of your heart. The Apple Watch EKG, which has been cleared by the Food and Drug Administration, works by passing a current through your chest after you touch the crown of the device. The watch can tell if your heart is beating normally or not, and you can share this information with your doctor.

The new watch series also has fall detection that can determine if you suddenly slip and can’t get up from the floor. The device tracks sleep, physical activity and exercise as well.

In addition, Apple said WatchOS 5, which was unveiled at the WWDC event in June, will be available on Sept. 17.

Neither Apple nor Fitbit immediately responded to requests for comment. 

Fitbit shares closed 6.9%, or 41 cents, lower at $5.53.

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