Will Garmin Direct Bulls Towards Healthy Returns?

3/26 - "Tuesday’s warning from SiRF is certainly not good news for the PND industry, but SiRF admitted that the drop in demand has mostly come from small PND makers. This may indicate a trend of slowing demand for all PNDs, or conversely it could mean that Garmin and larger PND-makers are out-pacing their smaller competitors with better, more innovative products.

Even if SiRF’s warning does suggest a rough quarter for Garmin, the PND industry is just scratching the surface of its potential demand, so owning the industry leader offers great upside potential for patient investors."

"From a long term value perspective, GRMN looks quite attractive. It is rare to find an industry leader with 55% market share selling at a 24% discount to the low end of its historical average Price-to-Sales range."