in the last week or so, the market has been doing fairly ok, coming back of big lows....BUT...garmin seems to not be able to pick up steam, and right now is touching 100.
1. on one hand, many people on the board seem very excited that garmin will have a HUGE quarter, and do very well.
2. on the other hand , numerous articles have been written that the cell phone industry by adding gps will dominate the marketplace, even insinuating that companies like garmin with stand alone pnds will get in trouble.
buffet, stealth, suzi, cstein,mlevine,profiteer, trikes, and all those who have stayed long for a long time and know your stuff....WHAT DO YOU THINK IS HAPPENINING?
is this another manipulation going on? do you have info to support the rise/fall of garmin stock. i am in a quandry over this., UNLESS you see garmin getting into a major rise after the year ends and into earnings?
i admit i still don't believe in the convergent phone, but where there is smoke, could there be fire. major article today in garmin section about pursuit of gps by EVERYBODY and indications of massive use by phones...i still dont believe it, but what do i know? lucky
why would that change? subprime is far worse than we thought and market is negative next year. events in the world have great effect on the market.
look, i manage a pretty large portfolio..garmin is only 13%/. my wife works and will retire in 3years.
one of my jobs(i am retired) is to along with a professional advisor MANAGE MY ASSETS!!!!.....when we retire, i plan our income to be higher than today..
so i am spending part of my time with this total portfolio, looking to maximize growth /income and minimize risk.
you call it whining...i call it hard work to continue to be a high six figure earner.
NEVER FALL IN LOVE WITH A STOCK, CHANGE IS INEVITABLE....and i like good stress...it relaxes me.....don't reply please...it aint worth it..
Why add to the long list of substance in my reply? you have been whining about the same things for well over a year. I can bet you will be distraught over the price next week, and the week after etc... I still own this stock, but to watch the day by day, minute by minute action is a complete waste of time. Do you just sit there all day every day and watch the ticker? I sure hope not. Like the car dealer that sells a car to a customer that keeps bringing it back when there is nothing wrong with it screaming, FIX IT!! They really wish they never sold that car. I know someone like that. If there is anything I can add to this thread it is this... RELAX! If you're still holding shares bought last year or earlier, you are up quite handsomely. If that is the case you have witnessed the volatility in this stock yet it keeps marching UP! Why would that change?
Indeed, Lucky's point (on communications) is somewhat valid. However, IMHO, believers in the stock will HOLD or ACCUMULATE (both of which I have been doing... and will continue to do so). Historically, GRMN shhots their wad at the quarterly report. At last report, the TA deal was announced, albeit to the chagrin of many shareholders. In retrospect, a GRMN "win" may have been better.
Interestingly, GRMN has been practicing verticle integration for a while... I surmise there is a "gargantuan" collaboration deal in the works; or, perhaps, another integrative deal.
Bottom line: take a look at the semi-annual chart and one can see: GRMN has its head screwed on right and tight. Don't get your panties in a wad just because GRMN doesn't TELL you, me, and Dupree all that the Board is doing or is going to do... The long-term chart says the Board is HIGHLY capable and most likely to do the right thing for you, me, and Dupree.
The question people are asking is not "Where's the bottom?" The question most people are asking is "Where is the zenith?"
We all know that these "stupid little media stories" are about as real as "Twas the Night Before Christmas..."
And we SHOULD know that the "technical charts" are not truly applicable when it comes to a company like GRMN.
Thus (and I continue to say) HOLD and A C C U U L A T E !
Lucky, Without reading the other replies, I think you have a consolidation phase combined with uncertainty. Garmin is still up well over 100% since last summer. I am staying away for now mainly because I think a lot of the positives are priced into the stock.....Garmin is not a secret anymore. Plus the competition is getting better and willing to sell with little to no margins. I have a co-worker who bought a Mio and is pleased with it.....although he has not used a Garmin.
Okay, here's another take to consider abut the future of Garmin. Instead of wondering about cell phone manufacturers incorporating GPS into their phones, let's ask what new functions could Garmin add to their GPS units. Phone? MP3? Web access? DVD? Seems to me you can only get by on polishing and perfecting the same function (GPS) for so long until you have to expand your product's functionality before it turn's into a comodity. I don't thing Garmins will be a comodity anytime soon, but I hope Garmin is thinking ahead.
Something or somebody is manipulating Garmin or stock traders are dumber than dirt. Maybe it's ignorance on the part of market "experts" <cough> Cramer <cough> and bogus market reports driving the herd, but Garmin's performance doesn't fit the mold. The market was up today, Garmin was down almost 2%.
Most of today, last sales were lower than bid then suddenly were way higher than asked, it seemed like somebody was trying to keep it at $100. The volume was low so I can't imagine the ticker having trouble keeping up. I bought a little in the $99s and plan to keep it for a while.
I dunno Lucky but we're in about the same position and I'm staying in for the long run. There's a few I like to day trade but Garmin is a permanent part of my portfolio.