Nike CEO discusses future of Apple partnership, exiting wearables, & Apple Watch (Video)

Screenshot 2015-05-08 11.02.29

Nike+ Running App for Apple Watch

Earlier today, Nike CEO Mark Parker sat down with CNBC for a video interview to discuss his company exiting wearable hardware, Fitbit’s IPO, fitness software, a partnership with Apple, and the Apple Watch. Asked where the Nike and Apple partnership goes from here, Parker said “it continues,” and that “we are excited about the potential that the Apple/Nike relationship has.”

Parker noted that Nike already offers the Nike+ app on the Apple Watch and that Nike has over 60 million digital fitness software users. Parker said Nike is “working with Apple” on new software and experiences. He ended by saying there is “more” coming from Apple and Nike. Apple and Nike are already close partners for HealthKit as well. 

Apple and Nike’s relationship dates back nearly a decade with Apple releasing a special chip for Nike shoes that talked to early generations of the iPod for steps tracking. The pair of companies enhanced this partnership by installing step tracking sensors in the second-generation iPod touch and iPhone 3GS last decade.

Additionally, as is well known, Apple CEO Tim Cook is a Nike fan and sits on the fitness and sports company’s Board of Directors. Last year, Nike shuttered its FuelBand business to focus on fitness software. Apple has also poached multiple former FuelBand engineers to work on the Apple Watch, we reported in the months leading up to the product’s introduction last fall.

The full video interview can be watched below:

Read more

Fitbit warns against highly competitive factors like Apple Watch in IPO filing

Screenshot 2015-05-07 13.45.31

Earlier today, fitness tracker hardware and software company Fitbit filed to go public on the New York Stock Exchange. Since the regulatory filing went public, observers have been scouring the paperwork for information on Fitbit’s financials, sales numbers, and notes about the competition. The Financial Times‘s Tim Bradshaw noticed that that Fitbit cites Apple and the recently-launched Apple Watch as the top billed competitor in the IPO Risk Factors section:

Read more

Apple’s market clout shaking S&P 500, making a run at $500B market cap

Apple’s record-breaking holiday quarter catapulted the stock north of $500 a share for the first time, and now the company’s market size is skewing some pretty important market indices, including the S&P 500 index. Already Apple of California passed 10 percent of all of NASDAQ value and now the company won an “ex-” designation on the S&P 500 index. Beginning in 1957, S&P has published prices of 500 large-cap common stocks actively traded in the United States through the New York Stock Exchange or the NASDAQ. S&P 500 fourth-quarter earnings increased a whopping 6.6-percent year-over-year due to Apple’s gangbuster quarter. Without Apple, S&P 500 grew only 2.8 percent (click the illustration).

The company’s share of S&P 500 now stands at 3.8-percent. For comparison’s sake, Exxon Mobil’s share of S&P 500 is 3.3-percent, Microsoft’s 1.9-percent and IBM’s 1.85-percent. This prompted institutions such as Morgan Stanley, Goldman Sachs, Barclays Capital, Wells Fargo, and UBS AG to begin publishing one version of market updates for the companies that make up the S&P 500 and the other for S&P 500 excluding Apple.

Crazy or what? Here are some more nuggets from Wall Street Journal’s Jonathan Cheng:

Read more