Garmin Ltd

Zacks Investment Research highlights Teradyne, Garmin, and KLA as top stocks in the Electronics – Miscellaneous Products industry, which has outperformed the S&P 500 over the past year. The industry gained 57.8% versus the S&P 500's 20.8% and the broader sector's 28.6%, and it carries a Zacks Industry Rank of 72, placing it in the top 29% of more than 246 industries. Teradyne, a Zacks Rank #1 Strong Buy, has seen its 2026 earnings estimate jump 26.4% to $9.10 per share over the past 30 days, with shares up 88.5% year to date. Garmin, also a Zacks Rank #1, has a 2026 earnings estimate of $9.94 per share, up 4.3% over 30 days, and shares up 43.5% year to date. KLA, a Zacks Rank #2 Buy, has a fiscal 2027 earnings estimate of $5.43 per share, up 7.1% over 30 days, and shares up 49.4% year to date.

Textron has delivered its 500th Cessna Citation CJ4 series business jet, marking more than a decade of customer confidence in the light jet platform. The milestone underscores the global appeal of the Citation CJ4, which is valued for its combination of performance, efficiency and mission flexibility across business travel, air ambulance, maritime patrol, search and rescue and aerial survey operations. Textron is also progressing toward the launch of the Cessna Citation CJ4 Gen3, which is expected to receive Federal Aviation Administration certification in 2026 and will feature Garmin G3000 PRIME avionics and Garmin Emergency Autoland. With an expected range of 2,165 nautical miles and seating for up to 11 occupants, the CJ4 Gen3 should offer strong versatility for owner-operators and corporate customers. Growing demand for efficient and versatile business jets, supported by corporate travel needs and increasing special mission requirements, is expected to support the light jet market.

Garmin has introduced the fēnix 9 and fēnix 9 Pro multisport GPS smartwatches, with the Pro model featuring the first titanium watch case and largest AMOLED display on a fēnix. The fēnix 9 Pro also offers built-in satellite and LTE connectivity for voice, text, and SOS communication, while both models add Garmin Epic for grouping activities into shareable stories and enhanced stamina metrics. The fēnix 9 starts at $999.99 with up to 29 days of battery life, and the fēnix 9 Pro starts at $1,099.99 with up to 31 days, or up to 57 days with solar charging on select models. The watches are available now in 43mm, 47mm, and 51mm sizes.

US stock futures are pointing slightly higher this morning, with E-mini S&P 500 contracts up about 0.3%, as investors weigh interest rate risks against mixed economic signals. The 10-year US Treasury yield is holding near 4.62%, and markets see roughly a 1 in 3 chance of a rate hike at the upcoming Federal Reserve meeting, with odds for September even higher. Housing data show prices rising only modestly once inflation is taken out. Among top movers, Garmin jumped 16.23% after Q2 results and higher full-year 2026 revenue guidance, GE HealthCare Technologies gained 12.15% following Q2 earnings and a price target increase from BTIG, and Cognizant Technology Solutions rose 11.25% after reporting Q2 results, updating guidance, and affirming its dividend. On the losing side, Vertiv Holdings Co fell 17.26% after a mixed Q2, revenue short of guidance midpoint and a target cut, Nebius Group declined 12.65%, and Cerebras Systems dropped 12.11% despite a long-term data center colocation agreement announcement. Earnings will dominate the next few sessions, with Apple, Amazon, and Mastercard reporting on Thursday, and AbbVie, Moderna, ExxonMobil, and Chevron on Friday.

Garmin raised its full-year sales and profit outlook after fiscal second-quarter earnings crushed Wall Street estimates. Revenue rose 11% year over year to $2 billion, driven by a 25% jump in fitness revenue to $757 million and a 14% increase in marine sales to $341 million. Adjusted earnings per share climbed 29% to $2.81, well above the $2.29 consensus. Management now expects full-year revenue of $8.05 billion and adjusted earnings of $10 per share, up from a prior forecast of $7.9 billion and $9.35. CEO Cliff Pemble said the fitness segment is expected to be the strongest contributor to 2026 consolidated growth.

Garmin is scheduled to report second-quarter 2026 results on July 29 before market open. The Zacks Consensus Estimate for earnings is $2.27 per share, implying a 4.6% year-over-year increase, while the revenue estimate stands at $1.93 billion, suggesting 6.4% growth. The Fitness segment is expected to lead with a consensus revenue estimate of $687.1 million, up 13.6%, driven by strong demand for advanced wearables and new products like the Varia RearVue 820 radar tail light. The Outdoor segment's consensus revenue estimate is $492.9 million, up 0.6%, supported by the fenix smartwatch lineup and recently launched devices such as the Approach G82 handheld GPS. The Marine segment's consensus estimate is $316.2 million, up 5.7%, aided by new products including the 360-degree scanning sonar with Spy Pole, while the Aviation segment's estimate is $271.5 million, up 9.2%, benefiting from OEM and aftermarket strength and the Daher TBM 980 aircraft featuring Garmin's G3000 PRIME avionics suite. The Auto OEM segment is expected to remain pressured with a consensus estimate of $163.2 million, down 4.1%, as the BMW program passes peak production and legacy programs wind down. Garmin has an Earnings ESP of 0.00% and a Zacks Rank of 3, indicating no clear signal for an earnings beat.

Garmin has acquired digital fitness platforms TrainingPeaks and TrainHeroic while launching the CIRQA Smart Band, a subscription-free, screen-free fitness tracker. The acquisitions target endurance and strength athletes, expanding Garmin's software and hardware reach in the fitness and wellness market. Garmin's stock trades at $240.10, with a 141.0% return over three years and an 18.6% gain year to date, though it has declined 4.3% in the past week. The moves may influence how investors view Garmin's ecosystem strength and its ability to compete for athlete engagement and recurring usage.

Garmin has introduced Mobile Clearance Delivery for Garmin Pilot, allowing Premium subscribers on iOS devices to obtain and cancel IFR clearances electronically at select U.S. airports. Developed in collaboration with the FAA and MITRE, the feature is currently in operational test and evaluation at five airports, including New Century AirCenter, Hooks Field, Sugar Land Regional Airport, Galveston Scholes International Airport, and Appleton International Airport. Pilots can receive and accept clearances with a WILCO response, overlay the cleared route on the app’s map, and send it to compatible avionics via Connext. A future enhancement will enable in-app IFR cancellation after landing. The feature will roll out nationwide in phases through 2028.

The global smart wearable jewelry market is projected to grow from $2.05 billion in 2026 to $3.25 billion by 2032, at a compound annual growth rate of 7.56%. The market was valued at $1.95 billion in 2025. Key companies profiled include Apple, Samsung, Xiaomi, Oura Health, and Garmin. The report highlights miniaturization and personalization as key innovation drivers, blending fashion-first design with health sensing and payment capabilities. It also notes that United States tariff dynamics in 2025 will require strategic supply chain adjustments.

Garmin introduced the LiveScope 2 Series of live-scanning sonar transducers and rolled out major Garmin Pilot app enhancements for Apple devices, including a redesigned Flights page and expanded SmartCharts coverage into Canada and Mexico. These updates highlight Garmin's push to deepen its ecosystem in marine hardware and aviation software, two of its highest-value specialty markets. The Garmin Pilot overhaul is seen as most relevant for the investment narrative because it directly supports the higher-value Aviation segment, where integrated hardware and software is central to the thesis. However, the updates do not fundamentally change near-term catalysts or risks, as Marine softness and rising operating costs remain concerns. Garmin's narrative projects $9.8 billion revenue and $2.3 billion earnings by 2029, with a fair value estimate of $262.43, implying 6% upside.

Garmin has announced multiple updates for its Garmin Pilot mobile app for Apple devices, including a redesigned Flights page that replaces the previous Trip Planning page and serves as a central hub for route planning, weight and balance, fuel planning, and briefing. The revolutionary SmartCharts dynamic charting solution will expand to Canada and Mexico in August, adding features such as Continuous Descent Final Approach path on the vertical profile view and cold weather adjustments for Canadian and U.S. airports. Additionally, Garmin Pilot will support pilots flying to EAA AirVenture Oshkosh 2026 with the FISK VFR Arrival procedure, now enhanced with additional labels on SmartCharts, colored runway dots on the airport diagram, and a direct link to the NOTAM. The FISK procedure is also available as an arrival in the Garmin navigation database starting July 9, allowing pilots to load it directly into their avionics for lateral guidance.