Garmin (GRMN - Free Report) introduced a portable golf launch monitor, namely Approach R10, for golfers.
Approach R10 is light in weight and features metrics like club head speed, ball speed, swing tempo, ball spin and launch angle.
Golfers can connect the monitor to the Garmin Golf app and use the Training Mode to understand their strengths and weaknesses, and accordingly make their games better.
The app offers more than 42,000 golf courses with the Home Tee Hero golf simulator to help golfers master the game and play weekly tournaments.
The latest launch is expected to expand Garmin’s reach to golfers as it is designed to help golfers in making their games better at home, indoors or the driving range. This, in turn, will strengthen the customer base of the company.
The move will strengthen the company’s Outdoor segment’s product offerings.
Outdoor Segment in Focus
Garmin is making strong efforts to boost prospects of the outdoor segment by providing advanced solutions to adventurers, athletes and outdoor enthusiasts. The recent launch is an effort in this direction.
Apart from the latest move, the company’s introduction of the Approach S42 smartwatch, the Approach S12 watch and the Approach G12 GPS rangefinder in the Approach series of GPS golf products remains noteworthy. The products are intended to help golfers play their best games and stay connected with the golfing community.
The company recently launched Descent Mk2S, a daily wear smartwatch with advanced diving features and options to track users’ daily lifestyles.
Garmin’s Enduro ultraperformance GPS watch, with an extended battery life that helps athletes train well and monitor their performance, remains another positive.
All these endeavors are expected to contribute well to the outdoor segment’s revenues. The segment generated $323.4 million in sales, accounting for 24% of total net sales in second-quarter 2021. Also, segmental revenues increased 57% year over year.
Expanding Product Portfolio
Garmin has expanded the overall product portfolio with the introduction of Approach R10.
Recently, the company introduced a chartplotter and transducer bundle with Panoptix LiveScope sonar, namely LiveScope Ice Fishing Bundle LI, for hard water fishing.
Garmin introduced TXi- engine indication system support for twin turboprop aircraft like Cessna 425, the King Air 90 series, and select Pratt & Whitney PT6A turboprop-powered Piper Cheyenne I and II.
The company also unveiled an all-new 2021 dash cam series, with voice controlling features, automatic video storage and Live View monitoring options for drivers to record any incident occurring in front of the vehicle.
Garmin launched a free software update to enhance the navigation capabilities of Edge 530, Edge 830, Edge 1030 and Edge 1030 Plus GPS cycling computers for providing a better experience to cyclists.
We believe that the endeavors are expected to drive Garmin’s top line in various end markets served.
Zacks Rank & Other Stocks to Consider
Currently, Garmin carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector are Advanced Micro Devices (AMD - Free Report) , Arrow Electronics (ARW - Free Report) and ASML Holding N.V. (ASML - Free Report) . While Advanced Micro Devices sports a Zacks Rank #1 (Strong Buy), Arrow Electronics and ASML Holding carry a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rates for Advanced Micro Devices, Arrow Electronics and ASML Holding are currently projected at 44.6%, 25.3% and 33.5%, respectively.
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Garmin (GRMN - Free Report) introduced a portable golf launch monitor, namely Approach R10, for golfers.
Approach R10 is light in weight and features metrics like club head speed, ball speed, swing tempo, ball spin and launch angle.
Golfers can connect the monitor to the Garmin Golf app and use the Training Mode to understand their strengths and weaknesses, and accordingly make their games better.
The app offers more than 42,000 golf courses with the Home Tee Hero golf simulator to help golfers master the game and play weekly tournaments.
The latest launch is expected to expand Garmin’s reach to golfers as it is designed to help golfers in making their games better at home, indoors or the driving range. This, in turn, will strengthen the customer base of the company.
The move will strengthen the company’s Outdoor segment’s product offerings.
Outdoor Segment in Focus
Garmin is making strong efforts to boost prospects of the outdoor segment by providing advanced solutions to adventurers, athletes and outdoor enthusiasts. The recent launch is an effort in this direction.
Apart from the latest move, the company’s introduction of the Approach S42 smartwatch, the Approach S12 watch and the Approach G12 GPS rangefinder in the Approach series of GPS golf products remains noteworthy. The products are intended to help golfers play their best games and stay connected with the golfing community.
The company recently launched Descent Mk2S, a daily wear smartwatch with advanced diving features and options to track users’ daily lifestyles.
Garmin’s Enduro ultraperformance GPS watch, with an extended battery life that helps athletes train well and monitor their performance, remains another positive.
All these endeavors are expected to contribute well to the outdoor segment’s revenues. The segment generated $323.4 million in sales, accounting for 24% of total net sales in second-quarter 2021. Also, segmental revenues increased 57% year over year.
Expanding Product Portfolio
Garmin has expanded the overall product portfolio with the introduction of Approach R10.
Recently, the company introduced a chartplotter and transducer bundle with Panoptix LiveScope sonar, namely LiveScope Ice Fishing Bundle LI, for hard water fishing.
Garmin introduced TXi- engine indication system support for twin turboprop aircraft like Cessna 425, the King Air 90 series, and select Pratt & Whitney PT6A turboprop-powered Piper Cheyenne I and II.
The company also unveiled an all-new 2021 dash cam series, with voice controlling features, automatic video storage and Live View monitoring options for drivers to record any incident occurring in front of the vehicle.
Garmin launched a free software update to enhance the navigation capabilities of Edge 530, Edge 830, Edge 1030 and Edge 1030 Plus GPS cycling computers for providing a better experience to cyclists.
We believe that the endeavors are expected to drive Garmin’s top line in various end markets served.
Zacks Rank & Other Stocks to Consider
Currently, Garmin carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector are Advanced Micro Devices (AMD - Free Report) , Arrow Electronics (ARW - Free Report) and ASML Holding N.V. (ASML - Free Report) . While Advanced Micro Devices sports a Zacks Rank #1 (Strong Buy), Arrow Electronics and ASML Holding carry a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rates for Advanced Micro Devices, Arrow Electronics and ASML Holding are currently projected at 44.6%, 25.3% and 33.5%, respectively.
Buy 5 Stocks BEFORE Election Day
Biden or Trump? Zacks is releasing a FREE Special Report, Profit from the 2024 Presidential Election (no matter who wins).
Since 1950, presidential election years have been strong for the market. This report names 5 timely stocks to ride the wave of electoral excitement.
They include a medical manufacturer that gained +11,000% in the last 15 years… a rental company absolutely crushing its sector… an energy powerhouse planning to grow its already large dividend by 25%... an aerospace and defense standout that just landed a potentially $80 billion contract… and a giant chipmaker building huge plants in the U.S.
Don’t Wait. Download FREE >>
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