Today's Above Avalon stories:

Tim Cook Q&A
Fitbit Earnings

We begin today's email by going over Tim Cook's interview with Fortune's Adam Lashinsky. We focus on three primary themes found in the Q&A: Apple's sales downturn, R&D and automobile contract manufacturing. We then take a deep-dive into Fitbit's 4Q15 earnings. Fitbit has implications on the broader wearables category given its market-leading position in the fitness and health space. The report contained a number of worrying signs for both Fitbit and the broader dedicated wearables category.

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