Several people have been asking about other companies with growth potential similar to Garmin. May I propose Rockwell Collins (COL)? They were one of the first companies involved in the GPS field, and they continue to be a leader. Their focus is on the US government (military) market rather than on the civilian market. This may make them a good paring with Garmin since there may not me much overlap and therefore less competition between the two.
If you go out to the beginning of 2003, there is a pretty good correlation between the growth of the two companies' price per share. Could it be that the entire GPS field has been undergoing the same growth?
One thing I like in particular about COL is that their volatility is much lower than GRMN's.
Disclosure: I interned in the GPS department of Rockwell Collins while I was studying for my Electrical Engineering degree.
I love Garmin. I like COL and GD. Most of the board posters that like GRMN have facts. Most of the others just have hopes and slurs. So let me tell you from 40,000 feet why I Like COL and GD
We need to rebuild the military in terms of equipment. The equipment we have lost on the ground must be incredible. Forget what the IED's have done. The climate is going to have made made much of our equipment hardly worth transporting home and repairing.
Forbes (and this could be a plus or a minus) likes GD because both dems and reps have indicated that we have to re-equip the military. The Iraq Study Group Report says that the Iraquis today don't have adequate fighting equipment. It recommends that as we withdraw we leave our military equipment there.
The terrain in Afganastan (sorry about the spelling if wrong) means we need those unmanned drones to catch terrorists in real time which means GPS systems on board (COL). Iran is going to be mapped to the square inch which means more surveilance flights as will be the case in N. Korea - just to see what is new.
So given the question of which way the economy and interest rates are going to go - I have to believe we are going to spend alot of money on the military no matter what. Bush could let this be known when he unveils his new Iraq policy and he will get a standing ovation from the democrats.