hardrookwar

Garmin Hits New Lows, Despite Booming GPS Biz

How many times is the same news going to drive this stock down? Today it was a Tom Tom warning. Why would GRMN drop (again) after its CFO just gave a 40-50% of Q4 guidance, after Q4 news was blockbuster--albeit with clearly explained declining margins, after everyone sees Nokia buying NVT, after GRMN already stepped back from TeleAtlas bid? Come on! Anticipation of this brought it down from 124/sh. Dividend is still .75/sh, and earnings will be around 4.20/sh, making the current PE around 11. Ridiculous for a LBS stock in a burgeoning market. I'm long, but no way am I panicked. Where will GRMN be in 1, 2, 3, 5 years? Only the most dominant GPS player in the nascent LBS market. Let me tell you, my iPhone can't touch my Garmin 60cs and probably never will. Would someone loan me some cash so I can make a bundle in GRMN? I predict 80/sh by xmas. A GRMN in every car, GRMN software in 30% of phones, GRMN in every plane and boat.