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Garmin (GRMN -2.1%) is lower thanks to a downgrade to Sell from Goldman's Simona Jankowski,...

Garmin (GRMN -2.1%) is lower thanks to a downgrade to Sell from Goldman's Simona Jankowski, who's worried about the ongoing cannibalization of PNDs by smartphones, and growing competition in the fitness GPS market. Jankowski's Q4 and Q1 EPS forecasts are respective 3% and 10% below consensus. Apple's inclusion of turn-by-turn navigation in iOS 6 (enabled by Tom-Tom) could accelerate the smartphone cannibalization trend. Garmin's auto/mobile PND sales were flat Y/Y in Q3.
Comments (1)
  • GuidoB
    , contributor
    Comments (6) | Send Message
     
    Do any of these 'experts' notice that Garmin is kicking butt in the avionics world where product is ENORMOUSLY more expensive and probably profitable than stupid car units?
    13 Nov 2012, 12:18 AM Reply Like
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