Apple Watch threat looms over Fitbit IPO
Wearable fitness device maker Fitbit intrigued investors late Thursday when it revealed stellar sales growth and profitability in its initial public offering prospectus with the U.S. Securities and Exchange Commission. But withApple’s (AAPL) Apple Watch and other smartwatches with health tracking features poised to cannibalize fitness band sales, Fitbit could face a difficult road ahead. A report out this week from Technalysis Research predicts that smartwatches will begin eating into sales of fitness bracelets like those made by Fitbit starting this year. The report sees smartwatches passing fitness bands in dollar sales this year and unit sales next year. “So much of the capabilities of those fitness bands is going to be integrated into smartwatches, and people aren’t going to buy both,” Technalysis analyst Bob O’Donnell told IBD. But Fitbit could respond by doing its own smartwatch, he said. “My guess is they’ll move into that category….