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SunTrust On Wearables: Consumers Will Adapt To New Technology

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SunTrust Robinson Humphrey's Bob Peck on Monday commented in a note that wearable technology devices were among the most popular gadgets showcased during the recent Consumer Electronics Show.

“We are of the belief that consumers will adapt to the advancing technology of wearables as the products move beyond the data collection phase to the point where the analysis and interaction can create actionable items and start changing human behavior,” Peck wrote.

Peck notes that based on Juniper Research data, sales of wearable devices within the fitness sector will surge to 70 million devices by 2018 from 19 million devices in use in 2014. Fitbit has become a leading brand as it expanded its product line to move towards the smartwatch category with sizable LCD screens that include GPS functionality.

Here is a summary of some of the new gadgets on display at CES:

Withings Activite Pop is a $150 smartwatch that Peck states could be mistaken for a traditional watch but it does include a step counter, sleep monitor and ability to sync with smartphones.

Lenovo's VIBE smartwatch sells for $89 and has the ability to show the user social media notifications along with texts and calls from their mobile phone.

Garmin Ltd.'s (NASDAQ: GRMN) Swarovski Shine Collection presents users with a more “fashion forward” version of its flagship model to appeal to a different demographic user base.

Finally, Facebook Inc's (NASDAQ: FB) Oculus Rift (a headwear wearable device) was displayed at CES and the company featured a Crescent Bay demo allowing participants to wander through a virtual world coordinated with 3D sound.

Latest Ratings for FB

DateFirmActionFromTo
Jun 2019UpgradesNeutralBuy
May 2019Initiates Coverage OnBuy
Apr 2019UpgradesHoldBuy

View More Analyst Ratings for FB
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Posted-In: Bob Peck CES Oculus Rift smartwatch SunTrustAnalyst Color Analyst Ratings Tech

 

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