Topic: How To Invest

Power Growth Investor Hotline – Friday, March 1, 2024

Article Excerpt

GARMIN LTD., $137.43, is a buy. The company (symbol GRMN on Nasdaq) makes GPS devices and software for five different markets: fitness, outdoors, auto, aviation, and marine. In the three months ended December 30, 2023, Garmin’s overall revenue rose 13.5%, to $1.48 billion from $1.31 billion a year earlier. Sales in the marine segment rose 14%. Sales in the fitness segment jumped 22%, primarily due to strong demand for advanced wearables. The outdoor segment’s revenue rose 8%—sales of adventure watches were higher with the roll out of a new product lineup. Sales in the auto segment jumped 54%, on higher sales of domain controllers. In automotive applications, a domain controller is a computer that directs a set of vehicle functions related to a specific area, or domain. Functional domains that require a domain controller are typically compute-intensive and connect to many input/output devices. Examples of relevant domains include active safety, user experience, and body and chassis. Garmin has begun shipping a new domain controller…