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The latest introduction of the Descent G1 Solar watch-style dive computersis in sync withGarmin’s growing efforts to expand the portfolio of its outdoor segment. Also, the company keeps bringing advanced technological solutions to provide a better experience to adventurers, athletes and outdoor enthusiasts.
Apart from the recent product, the company introduced the Garmin TT 15X and T 5X dog tracking devices with extended battery life and customizable power settings.
GRMN also unveiled a compact satellite communication device named inReach Mini 2, with two-way texting and SOS capabilities, which helps users stay connected with friends and families during trips.
The company also launched a portable golf launch monitor, namely Approach R10, in a bid to expand its reach to golfers.
These endeavors are driving Garmin’s performance in the outdoor segment, which generated $378.2 million in fourth-quarter 2021, accounting for 27.2% of the total revenues.
Expanding Product Portfolio
Apart from expanding the outdoor portfolio, the company has been consistently working toward bringing new solutions to expand its overall portfolio offerings.
Recently, it added the LiveScope Plus System to its live-scanning sonar lineup. The new product features sharp resolution, reduced noise and clear images for recreational fishing.
The company also unveiled products to the Tread series in a bid to provide advanced navigation capabilities to powersport enthusiasts.
Garminrolled out a GPS smartwatch called Venu 2 Plus to expand its offerings in the fitness tracker market.
GRMN 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.
We note that Garmin’s strong endeavors to expand product offerings will continue to drive its momentum across customers and bolster its presence in various end markets served.
However, the weak personal navigation device market remains a major headwind. Further, sluggishness in the outdoor and fitness segments remains concerning for the company.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #4 (Sell).
Investors interested in the broader technology sector can consider some better-ranked stocks like Advanced Micro Devices (AMD - Free Report) , Allied Motion Technologies and Apple (AAPL - Free Report) . While Advanced Micro Devices and Allied Motion currently sport a Zacks Rank #1 (Strong Buy), Apple carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Advanced Micro Devices has gained 46.3% over a year. The long-term earnings growth rate for AMD is currently projected at 29.1%.
Allied Motionhas gained 10.2% over a year. The long-term earnings growth rate for AMOT is currently projected at 10%.
Apple has gained 36.4% over a year. The long-term earnings growth rate for AAPL is currently projected at 12.5%.
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Garmin (GRMN) Expands Outdoor Portfolio With Descent G1 Solar
Garmin (GRMN - Free Report) introduced the Descent G1 Solar watch-style dive computers for divers.
The device features innovative dive technology, health and wellness monitoring capabilities, and extended battery life.
Further, the Descent G1 is compatible with Connect IQ, which helps users download required data fields, apps and widgets.
With the help of the latest launch, Garmin aims to provide an enhanced recreational experience to divers and surfers.
Garmin Ltd. Price and Consensus
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
Outdoor Segment in Focus
The latest introduction of the Descent G1 Solar watch-style dive computersis in sync withGarmin’s growing efforts to expand the portfolio of its outdoor segment. Also, the company keeps bringing advanced technological solutions to provide a better experience to adventurers, athletes and outdoor enthusiasts.
Apart from the recent product, the company introduced the Garmin TT 15X and T 5X dog tracking devices with extended battery life and customizable power settings.
GRMN also unveiled a compact satellite communication device named inReach Mini 2, with two-way texting and SOS capabilities, which helps users stay connected with friends and families during trips.
The company also launched a portable golf launch monitor, namely Approach R10, in a bid to expand its reach to golfers.
These endeavors are driving Garmin’s performance in the outdoor segment, which generated $378.2 million in fourth-quarter 2021, accounting for 27.2% of the total revenues.
Expanding Product Portfolio
Apart from expanding the outdoor portfolio, the company has been consistently working toward bringing new solutions to expand its overall portfolio offerings.
Recently, it added the LiveScope Plus System to its live-scanning sonar lineup. The new product features sharp resolution, reduced noise and clear images for recreational fishing.
The company also unveiled products to the Tread series in a bid to provide advanced navigation capabilities to powersport enthusiasts.
Garminrolled out a GPS smartwatch called Venu 2 Plus to expand its offerings in the fitness tracker market.
GRMN 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.
We note that Garmin’s strong endeavors to expand product offerings will continue to drive its momentum across customers and bolster its presence in various end markets served.
However, the weak personal navigation device market remains a major headwind. Further, sluggishness in the outdoor and fitness segments remains concerning for the company.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #4 (Sell).
Investors interested in the broader technology sector can consider some better-ranked stocks like Advanced Micro Devices (AMD - Free Report) , Allied Motion Technologies and Apple (AAPL - Free Report) . While Advanced Micro Devices and Allied Motion currently sport a Zacks Rank #1 (Strong Buy), Apple carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Advanced Micro Devices has gained 46.3% over a year. The long-term earnings growth rate for AMD is currently projected at 29.1%.
Allied Motionhas gained 10.2% over a year. The long-term earnings growth rate for AMOT is currently projected at 10%.
Apple has gained 36.4% over a year. The long-term earnings growth rate for AAPL is currently projected at 12.5%.