ceo nick woodman is placing all his bets on two new cameras and a drone ahead of the hol lay shoppingeason, but it's not just gopro. earlier this week, fit bit lowered its guidance for the holiday quarter nearly 25% sending that stock sinking. and last month ibc had a report saying, quote, significantly designs in the smart watch market for the third quarter. what's going on in the wearables market, ed? >> we all have these phones. they work well for video and camera. do i need to spend $100, $200 for -- >> that's not new. >> not new but the expectations game is something a lot of tech companies, a lot of silicon valley companies have not done a good job of signalling to the market, right, to investors. i think that's a big factor weighing on this. yeah, i think, you know -- consumer confidence when it comes to tech is sort of a bizarre thing. iphone comes out, i'm going to spend my money there. i'm not spending it elsewhere. that's another factor. >> obviously we all have smartphones. that's a threat to the likes of gopro. what about drones? are they a threat or opportunity for gopro

nick woodman, gopro will have difficulty meeting demand in q4.culty meeting demand in that all-important holiday quarter. i can tell you, analysts on the call are also asking about that relationship with amazon. it is an important one. amazon does account for an estimated 10, 12% of sales. gopro is saying they're back online with amazon, saying jeff bezos' company remains a great partner. >> josh, in terms of the miss, is that focused mostly on the fourth quarter, holiday quarter, or the third quarter that's just closed? i'm just trying to understand how much they see in terms of a decline in the all-important holiday quarter. >> yeah, i mean, listen, the miss in the holiday quarter is obviously the street is focused on. it was a miss in terms of their guide. the issue they're talking about on the call was, listen, woodman's point is it's not a demand issue, demand is strong, we simply had manufacturing issues, that means i can't make enough of these new cameras and enough of these drones to meet that demand. it's a little different than we heard

in contrast we've got nick woodman, the founder and ceo of gop gopro, total commodity. he has no credibility because he created an eke oh system that never really took off, the opp sid of what tim cook has done at apple. like the fit bit, once you had a gopro, you didn't need another gopro. even as they kept introducing new iterations. it just isn't that special. and gopro's earnings were just slashed. its forecast was slashed beyond recognition this evening. fitbit, nothing more than a commodity. now, there are two others that have been called into question right at this very moment. the first is the management team at facebook. this stock got hammered today, but i think it's a victim of its own success. i keep telling you not to trust stoblgs that run up into their quarters. facebook's stock ran up aggressively into the quarter. i think the company was managing down conservatively on its conference call last night and ult mate we'll see it as a desire not to let expectations get ahead of themselves as facebook tries to recruit another billion people to its proper prop