We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Garmin's improved EPS guidance helps it earn a Zacks Rank #1 (Strong Buy).
The GPS giant is thriving and innovating in the highly competitive fitness wearable industry.
Its stellar balance sheet helped it raise its dividend by 17% and roll out a $500 million repurchase program.
Plus, AI will have a hard time replacing the market-crushing tech company's physical technologies.
Garmin Ltd. (GRMN - Free Report) grew its revenue and earnings at an impressive rate over the past several years and in the first half of 2026.
The wearable tech giant is building momentum across its portfolio, highlighted by strong growth in its Fitness category.
The GPS powerhouse, operating across Fitness, Outdoor, Aviation, Marine, and Auto OEM, expanded its GAAP earnings by 70% between 2022 and 2025 and bolstered its revenue by 50%.
Most recently, Garmin posted an impressive beat-and-raise Q2, driven by 25% expansion in its Fitness segment (32% in the first half) as it rolls out more wearable offerings to compete against up-and-coming peers attempting to disrupt the space.
GRMN’s upward earnings revisions land the GPS technology innovator a Zacks Rank #1 (Strong Buy) right now. It’s also part of an industry that ranks in the top 15% of roughly 250 Zacks industries.
Wall Street appreciates that Garmin is more immune to AI disruptions than most of the broader technology sector. Simply put, GRMN’s wearable fitness tracker technologies and GPS systems for boats, planes, and beyond are difficult for AI chatbots and AI assistants to replace.
Garmin stock soared 180% in the past three years as part of a strong S&P 500-beating performance over the last 15 years. The stock is down ~7% from its early August peaks following its post-earnings surge, and it has already found technical support.
Capping off Garmin’s near-term and long-term bull case is its pristine, debt-free balance sheet. The company showcased its financial firepower by raising its dividend by 17% for 2026 and implemented a new $500 million share repurchase program at the start of the year.
Best "Strong Buy" Tech Stocks to Buy Now Outside of the AI Boom
Garmin has been a leader in the consumer-facing GPS industry for the past 30 years. The company’s in-car navigation systems helped it become a household name.
Today, Garmin's portfolio spans far beyond automotive GPS systems, which is critical considering that many people use their Apple iPhones and other smartphones to get from point A to point B.
The Switzerland-based tech company’s fitness wearables and smartwatches are growing in popularity despite challenges from Apple and others.
GRMN remains at the cutting edge of the hugely popular fitness and health wearables category, attracting everyone from fitness fanatics to hikers and mountaineers and beyond. The segment is gaining steam as more people want to track various health metrics from heart rate to pulse ox, stress, and more.
Image Source: Zacks Investment Research
The wearable fitness category is so hot that smart ring maker Oura’s upcoming IPO is reportedly four times oversubscribed—Oura is reportedly ready to make its Wall Street debut during the week of September 28.
The success of Oura’s no-frills health wearable sparked, in part, Garmin to launch its “first screen-free smart band that tracks advanced fitness and wellness features” called the CIRQA in late July.
GRMN is ready to stand out in this segment since it sells the new screen-free fitness and healthcare tracker without a subscription, unlike some of its next-gen competitors Oura ($5.99 a month) and Whoop (WHOOP One: $25/month).
Image Source: Zacks Investment Research
Fitness accounted for roughly 33% of 2025 revenue, followed by its golf, consumer auto, and adventure watch-heavy Outdoor unit at 28%. GRMN’s portfolio spans far beyond its more consumer-heavy efforts. Garmin is an innovator across aviation and marine.
Garmin makes sonar, radars, autopilot systems, and other crucial and cutting-edge tech for various types and sizes of boats. Meanwhile, its aviation business spans general, business, government & defense, helicopters, and experimental aircraft, with offerings such as flight decks & displays, autopilot, navigation & radios, and much more.
GRMN also works directly with automotive giants like BMW, Mercedes-Benz, and beyond through its Auto OEM unit, which is by far its smallest segment.
Garmin’s Strong Growth Outlook Isn’t Based on AI Upside
Garmin grew its sales by 15% in 2025,, following 20% growth in 2024, driven by record revenue across all five segments. Its Fitness segment surged 33% in 2025, driven by 42% growth in Q4. Overall, the company shipped over 20 million units last year.
On the earnings front, GRMN expanded its GAAP EPS by 18% last year and its adjusted earnings by 16%.
Image Source: Zacks Investment Research
The company expanded its revenue by 13% in the first half of 2026, driven by a 32% expansion in Fitness. GRMN posted even stronger bottom-line expansion, boosting its GAAP and adjusted EPS by 29% in the first six months of 2026.
More importantly, in the forward-looking world of Wall Street, Garmin upped its full-year revenue and earnings guidance.
GRMN’s recent upward EPS revisions help it land a Zacks Rank #1 (Strong Buy) right now. Plus, it has topped our EPS estimates by an average of 14% in the past four quarters.
Looking ahead, the GPS powerhouse is projected to boost its adjusted EPS by 18% in 2026 and another 6% next year to reach $10.70 a share, more than doubling its 2020 total of $5.13 a share. The chart below showcases Garmin’s longer-term EPS growth upside.
Image Source: Zacks Investment Research
Garmin is projected to grow its revenue by 12% in 2026 and 10% next year to jump to $8.87 billion, doubling 2020’s $4.19 billion in the process. The company also completed, in late July, the strategic acquisitions of TrainingPeaks and TrainHeroic, which is referred to as “leading training platforms for athletes and coaches.”
Is Garmin the Best Non-AI Tech Stock to Buy Right Now?
Investors must, without a doubt, continue to buy AI stocks to make sure they are exposed to what’s projected to be the biggest boom in economic and Wall Street history. Investors must also make sure they are buying and holding stocks outside of AI.
Garmin’s ability to expand in a proven and growing area of physical technology that appears immune to AI disruptions adds to the wearable fitness and GPS maker’s bull case.
GRMN stock is neck-and-neck with the Tech sector over the past 10 years, up ~510%, including a 45% YTD charge to double Tech’s 22%. The GPS maker has soared ~3,550% in the past 25 years vs. the benchmark S&P 500’s 680%.
The stock is down around ~7% from its August highs, and it already rebounded back above its 50-day moving average after finding technical support at its pre-Q2 earnings breakout highs from April.
Image Source: Zacks Investment Research
Garmin is a well-oiled machine churning out free cash flow growth and building a stellar debt-free balance sheet, highlighted by $2.7 billion in cash and equivalents and $11.4 billion in total assets against just $2.4 billion in total liabilities.
Garmin has the financial foundation to keep innovating in an AI-obsessed world and making critical acquisitions.
Garmin lifted its dividend payout by 17% and announced a new $500 million share repurchase program at the start of 2026. Its dividend yield stands at 1.4%. The stock is part of the Electronics - Miscellaneous Products industry that sits in the top 15% of 250.
This is important since studies have shown that roughly half of a stock's price movement can be attributed to a stock's industry group. In fact, the top 50% of Zacks Ranked Industries outperforms the bottom 50% by a factor of more than 2 to 1.
View the Zacks #1 Rank List
Bull of the Day: Garmin Ltd. (GRMN)
Key Takeaways
Garmin Ltd. (GRMN - Free Report) grew its revenue and earnings at an impressive rate over the past several years and in the first half of 2026.
The wearable tech giant is building momentum across its portfolio, highlighted by strong growth in its Fitness category.
The GPS powerhouse, operating across Fitness, Outdoor, Aviation, Marine, and Auto OEM, expanded its GAAP earnings by 70% between 2022 and 2025 and bolstered its revenue by 50%.
Most recently, Garmin posted an impressive beat-and-raise Q2, driven by 25% expansion in its Fitness segment (32% in the first half) as it rolls out more wearable offerings to compete against up-and-coming peers attempting to disrupt the space.
GRMN’s upward earnings revisions land the GPS technology innovator a Zacks Rank #1 (Strong Buy) right now. It’s also part of an industry that ranks in the top 15% of roughly 250 Zacks industries.
Wall Street appreciates that Garmin is more immune to AI disruptions than most of the broader technology sector. Simply put, GRMN’s wearable fitness tracker technologies and GPS systems for boats, planes, and beyond are difficult for AI chatbots and AI assistants to replace.
Garmin stock soared 180% in the past three years as part of a strong S&P 500-beating performance over the last 15 years. The stock is down ~7% from its early August peaks following its post-earnings surge, and it has already found technical support.
Capping off Garmin’s near-term and long-term bull case is its pristine, debt-free balance sheet. The company showcased its financial firepower by raising its dividend by 17% for 2026 and implemented a new $500 million share repurchase program at the start of the year.
Best "Strong Buy" Tech Stocks to Buy Now Outside of the AI Boom
Garmin has been a leader in the consumer-facing GPS industry for the past 30 years. The company’s in-car navigation systems helped it become a household name.
Today, Garmin's portfolio spans far beyond automotive GPS systems, which is critical considering that many people use their Apple iPhones and other smartphones to get from point A to point B.
The Switzerland-based tech company’s fitness wearables and smartwatches are growing in popularity despite challenges from Apple and others.
GRMN remains at the cutting edge of the hugely popular fitness and health wearables category, attracting everyone from fitness fanatics to hikers and mountaineers and beyond. The segment is gaining steam as more people want to track various health metrics from heart rate to pulse ox, stress, and more.
Image Source: Zacks Investment Research
The wearable fitness category is so hot that smart ring maker Oura’s upcoming IPO is reportedly four times oversubscribed—Oura is reportedly ready to make its Wall Street debut during the week of September 28.
The success of Oura’s no-frills health wearable sparked, in part, Garmin to launch its “first screen-free smart band that tracks advanced fitness and wellness features” called the CIRQA in late July.
GRMN is ready to stand out in this segment since it sells the new screen-free fitness and healthcare tracker without a subscription, unlike some of its next-gen competitors Oura ($5.99 a month) and Whoop (WHOOP One: $25/month).
Image Source: Zacks Investment Research
Fitness accounted for roughly 33% of 2025 revenue, followed by its golf, consumer auto, and adventure watch-heavy Outdoor unit at 28%. GRMN’s portfolio spans far beyond its more consumer-heavy efforts. Garmin is an innovator across aviation and marine.
Garmin makes sonar, radars, autopilot systems, and other crucial and cutting-edge tech for various types and sizes of boats. Meanwhile, its aviation business spans general, business, government & defense, helicopters, and experimental aircraft, with offerings such as flight decks & displays, autopilot, navigation & radios, and much more.
GRMN also works directly with automotive giants like BMW, Mercedes-Benz, and beyond through its Auto OEM unit, which is by far its smallest segment.
Garmin’s Strong Growth Outlook Isn’t Based on AI Upside
Garmin grew its sales by 15% in 2025,, following 20% growth in 2024, driven by record revenue across all five segments. Its Fitness segment surged 33% in 2025, driven by 42% growth in Q4. Overall, the company shipped over 20 million units last year.
On the earnings front, GRMN expanded its GAAP EPS by 18% last year and its adjusted earnings by 16%.
Image Source: Zacks Investment Research
The company expanded its revenue by 13% in the first half of 2026, driven by a 32% expansion in Fitness. GRMN posted even stronger bottom-line expansion, boosting its GAAP and adjusted EPS by 29% in the first six months of 2026.
More importantly, in the forward-looking world of Wall Street, Garmin upped its full-year revenue and earnings guidance.
GRMN’s recent upward EPS revisions help it land a Zacks Rank #1 (Strong Buy) right now. Plus, it has topped our EPS estimates by an average of 14% in the past four quarters.
Looking ahead, the GPS powerhouse is projected to boost its adjusted EPS by 18% in 2026 and another 6% next year to reach $10.70 a share, more than doubling its 2020 total of $5.13 a share. The chart below showcases Garmin’s longer-term EPS growth upside.
Image Source: Zacks Investment Research
Garmin is projected to grow its revenue by 12% in 2026 and 10% next year to jump to $8.87 billion, doubling 2020’s $4.19 billion in the process. The company also completed, in late July, the strategic acquisitions of TrainingPeaks and TrainHeroic, which is referred to as “leading training platforms for athletes and coaches.”
Is Garmin the Best Non-AI Tech Stock to Buy Right Now?
Investors must, without a doubt, continue to buy AI stocks to make sure they are exposed to what’s projected to be the biggest boom in economic and Wall Street history. Investors must also make sure they are buying and holding stocks outside of AI.
Garmin’s ability to expand in a proven and growing area of physical technology that appears immune to AI disruptions adds to the wearable fitness and GPS maker’s bull case.
GRMN stock is neck-and-neck with the Tech sector over the past 10 years, up ~510%, including a 45% YTD charge to double Tech’s 22%. The GPS maker has soared ~3,550% in the past 25 years vs. the benchmark S&P 500’s 680%.
The stock is down around ~7% from its August highs, and it already rebounded back above its 50-day moving average after finding technical support at its pre-Q2 earnings breakout highs from April.
Image Source: Zacks Investment Research
Garmin is a well-oiled machine churning out free cash flow growth and building a stellar debt-free balance sheet, highlighted by $2.7 billion in cash and equivalents and $11.4 billion in total assets against just $2.4 billion in total liabilities.
Garmin has the financial foundation to keep innovating in an AI-obsessed world and making critical acquisitions.
Garmin lifted its dividend payout by 17% and announced a new $500 million share repurchase program at the start of 2026. Its dividend yield stands at 1.4%. The stock is part of the Electronics - Miscellaneous Products industry that sits in the top 15% of 250.
This is important since studies have shown that roughly half of a stock's price movement can be attributed to a stock's industry group. In fact, the top 50% of Zacks Ranked Industries outperforms the bottom 50% by a factor of more than 2 to 1.