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Garmin (GRMN) Boosts Smartwatch Offerings With Latest Update
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Garmin (GRMN - Free Report) is constantly gaining strong momentum in the wearable market on the back of its robust smartwatch offerings.
Recently, the company added AMOLED display feature to its Forerunner 265 and Forerunner 965 GPS running watches series.
Both Forerunners 265 and 965 help the users to view and read the screen easily in any weather with full-color displays. Further, these smartwatches enable users to access health features and smart notifications seamlessly on the back of the responsive touchscreen displays.
Further, these watches offer other innovative features to athletes such as morning report, race widget, personalized daily suggested workouts, training readiness score, running power and running dynamics, and heart rate variability.
The above-mentioned features are expected to boost the adoption rate of the Forerunner smartwatches in the days ahead.
The latest move bodes well for Garmin’s consistent efforts in strengthening its smartwatch portfolio.
In addition to the AMOLED features, Garmin has added new features to its Enduro 2, epix (Gen 2), f??nix 7 series, Instinct 2 series, Instinct Crossover, MARQ (Gen 2), quatix 7, tactix 7, and vívomove smartwatch series.
The new features provide automatic tracking for backcountry ski and snowboard activities, wakesports activities tracking, sail expedition battery-saving mode, physio TrueUp enhancements, sunrise/sunset widget improvements, and sleep score tracking on select Garmin devices.
Further, it also introduced a trend hybrid smartwatch with a classic analog design, smartphone notifications, Garmin Pay, all-day stress tracking, sleep score, preloaded activities and 5 days of battery life with wireless charging compatibility.
Additionally, Garmin launched an LTE connectivity bounce smartwatch for kids, which will help parents to stay in touch with their children and easily locate them.
The consistent launch of smartwatch offerings is expected to help Garmin gain momentum in its Fitness Segment.
To Conclude
Garmin’s above-mentioned efforts are expected to continue helping it to solidify its presence in the booming smartwatch, as well as the wearable market.
Per a Grand View Research report, the global smartwatch market is anticipated to grow at a CAGR of 8.2% during the 2022-2030 period.
We believe that Garmin’s prospects in these booming markets are likely to aid it in gaining investors’ confidence in the near term.
Shares of GRMN have declined 8.7% over a year against the Computer and Technology sector’s decline of 10.6%.
Image: Bigstock
Garmin (GRMN) Boosts Smartwatch Offerings With Latest Update
Garmin (GRMN - Free Report) is constantly gaining strong momentum in the wearable market on the back of its robust smartwatch offerings.
Recently, the company added AMOLED display feature to its Forerunner 265 and Forerunner 965 GPS running watches series.
Both Forerunners 265 and 965 help the users to view and read the screen easily in any weather with full-color displays. Further, these smartwatches enable users to access health features and smart notifications seamlessly on the back of the responsive touchscreen displays.
Further, these watches offer other innovative features to athletes such as morning report, race widget, personalized daily suggested workouts, training readiness score, running power and running dynamics, and heart rate variability.
The above-mentioned features are expected to boost the adoption rate of the Forerunner smartwatches in the days ahead.
Garmin Ltd. Price and Consensus
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
Expanding Smartwatch offerings
The latest move bodes well for Garmin’s consistent efforts in strengthening its smartwatch portfolio.
In addition to the AMOLED features, Garmin has added new features to its Enduro 2, epix (Gen 2), f??nix 7 series, Instinct 2 series, Instinct Crossover, MARQ (Gen 2), quatix 7, tactix 7, and vívomove smartwatch series.
The new features provide automatic tracking for backcountry ski and snowboard activities, wakesports activities tracking, sail expedition battery-saving mode, physio TrueUp enhancements, sunrise/sunset widget improvements, and sleep score tracking on select Garmin devices.
Further, it also introduced a trend hybrid smartwatch with a classic analog design, smartphone notifications, Garmin Pay, all-day stress tracking, sleep score, preloaded activities and 5 days of battery life with wireless charging compatibility.
Additionally, Garmin launched an LTE connectivity bounce smartwatch for kids, which will help parents to stay in touch with their children and easily locate them.
The consistent launch of smartwatch offerings is expected to help Garmin gain momentum in its Fitness Segment.
To Conclude
Garmin’s above-mentioned efforts are expected to continue helping it to solidify its presence in the booming smartwatch, as well as the wearable market.
Per a Grand View Research report, the global smartwatch market is anticipated to grow at a CAGR of 8.2% during the 2022-2030 period.
We believe that Garmin’s prospects in these booming markets are likely to aid it in gaining investors’ confidence in the near term.
Shares of GRMN have declined 8.7% over a year against the Computer and Technology sector’s decline of 10.6%.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Arista Networks (ANET - Free Report) , Agilent Technologies (A - Free Report) and AMETEK (AME - Free Report) . While Arista Networks sports a Zacks Rank #1 (Strong Buy), Agilent and AMETEK carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks shares have gained 22.9% in the past year. The long-term earnings growth rate for ANET is currently projected at 14.17%.
Agilent shares have gained 10.4% in the past year. A’s long-term earnings growth rate is currently projected at 12%.
AMETEK shares have gained 11.1% in the past year. The long-term earnings growth rate for AME is currently projected at 8.81%.