As technology aficionados watch these new, exciting developments, investors are keeping an eye on them, as well. When it comes to technology, timing is everything, and three companies are winning investors’ confidence by putting themselves ahead of competitors.
Peripheral vision
Google Inc (NASDAQ:GOOG) has been the talk of the tech world for the better part of a year now with Google Inc (NASDAQ:GOOG) Glass. Glass is worn as one would wear eyeglasses, making it the ultimate in wearable technology, presenting hands-free access to a wearer’s current messages and social media updates. Google Inc (NASDAQ:GOOG) Glass users can take video of the image a person is currently viewing, snap a picture, or video chat with others, all through voice commands, all hands-free.
But even before Google Glass hits stores, rumors of competing products have begun. The price tag on Google Inc (NASDAQ:GOOG) Glass is rumored to be in the $1,500 range, making it unreachable to the average consumer for the time being. But Google’s earnings are already ahead of much of its competition, with the company’s stock recently surpassing the $800 mark for the first time ever. With Google Glass poised to hit the market, it might be the best time to focus investment dollars on Google stock. Google Inc (NASDAQ:GOOG)’s continued emphasis on innovation make it a best bet for any investor, year after year.
Tracking health
NIKE, Inc. (NYSE:NKE) has jumped into the wearable technology trend with both feet, launching its FuelBand last year. The band interacts with an iPhone to track a wearer’s activity levels in order to help them stay fit. The product, released in early 2012, has helped the company enjoy continued earnings growth and has prompted NIKE, Inc. (NYSE:NKE) to continue to explore new technology opportunities through its Nike Accelerator program. The company announced in its recent quarterly earnings call that it currently has ten separate startups building apps for Nike+ products.
As technology continues to power consumers’ lives, NIKE, Inc. (NYSE:NKE) plans to use technology to help people achieve their fitness goals. This includes virtual reality games, digital personal coaching, and a gaming platform that turns family fitness into a game. Investors are closely watching NIKE, Inc. (NYSE:NKE)’s foray into wearable tech, including a shoe that tracks someone’s performance on the basketball court. But is it enough to keep Nike stock on the upswing? It’s a safe bet. NIKE, Inc. (NYSE:NKE) is a longstanding name for a reason–the company never stops evolving, making it a winner with investors.
More than timekeeping
What would a wearable technology article be without mention of the long-rumored Apple Inc. (NASDAQ:AAPL) “smart watch?” At one time manufacturers could release a wristband that simply tells time and consumers would rush to buy. However, consumers have begun to forego wristwatches in the smartphone era, leaving analysts to wonder if there’s a way back for the devices.
With the iWatch, Apple Inc. (NASDAQ:AAPL) is expected to re-imagine the device for today’s tech needs. If Apple Inc. (NASDAQ:AAPL) can put iOS on a watch, giving us access to Siri, our e-mails, and our favorite apps, this could keep the company on top. Apple Inc. (NASDAQ:AAPL)’s revenue has climbed to $108 billion under CEO Tim Cook, thanks to its continued innovation. This success has investors keeping an eye on the company, even as they set more money aside to invest in the company. One thing is clear: even without Steve Jobs, Apple Inc. (NASDAQ:AAPL) will continue to impress investors for many years.
Analysts will be eagerly watching each of these innovations as they unfold, eager to see who wins this wearable tech war. Apple Inc. (NASDAQ:AAPL), Google Inc (NASDAQ:GOOG), and NIKE, Inc. (NYSE:NKE) are tackling the challenge in completely different ways, already spawning imitators.
The article Will Wearable Technology Take Off? originally appeared on Fool.com and is written by Stephanie Faris.
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