The recent Gartner forecast on global wearables shipments is ultra-bullish for Fitbit (FIT). The research firm forecasts shipments to triple from 141 million in 2017 to 453 million in 2022.
The best story for investors is that the stock only trades at a market value of $1.3 billion with a sizable balance sheet. Risk always exists with a stock, but Fitbit offers an incredible reward, if the company gets the wearables trend correctly over the next few years.
Disclosure: Long FIT. Please review the disclaimer page for more details.