Garmin Is Unlikely To Beat Apple
GRMN data by YCharts
Oppenheimer & Co analyst Yair Reiner maintained a "perform" rating on the stock but did make some cautionary comments.
- Global economic slow down is hurting auto sales, thus reducing demand for GRMN products.
- Concern about competition from Apple (AAPL)
While a global slowdown is certainly a problem for GRMN, I believe the threat from Apple is far more worrisome for GRMN shareholders.
On Monday, Apple announced that its new mobile software, iOS 6, would have a new built in map feature. This is certainly bad news for GRMN and Google (GOOG) as Apple almost always tends to destroy competitors. Apple's iPhone was incredibly destructive for nearly all other smartphone makers. Blackberry maker Research In Motion (RIMM) and once industry leader Nokia (NOK) are bothComplete Story »