Garmin Tumbles as Analyst Sees Rising Competition From Apple

Now watching

Next video starts in : 7 Play

Garmin Tumbles as Analyst Sees Rising Competition From Apple

Garmin Tumbles as Analyst Sees Rising Competition From Apple
Replay video
Up next

Sin City Saints Episode 1: The Fool Monty

Unlock your personal NFL Now stream by signing in to NFL.com

Garmin Tumbles as Analyst Sees Rising Competition From Apple

by TheStreet.com Videos 0:44 mins

Garmin Tumbles as Analyst Sees Rising Competition From Apple

by TheStreet.com Videos 0:44 mins

Shares of Garmin tumbled on Wednesday making it TheStreet's Move of the Day. The company known for its car navigation systems took a hit after Pacific Crest downgraded the stock to 'Underperform' and put a price target in the mid-$40s range. Pacific Crest analyst Brad Erickson said Apple's new iPhone and the possibility of its release of an iWatch could be negative for Garmin. He noted that the rumored iPhone's larger screen combined with its turn-by-turn navigation capabilities could rival the Garmin devices. Shares dumped 4.6 percent to $57.86 on Tuesday, making it the worst performer in the S&P 500.

Must Watch

Community

  1. 27:26

    Community Episode 1: Ladders

  2. 27:26

    Community Episode 2: Lawnmower Maintenance and Postnatal Care

  3. 24:40

    Community Episode 3: Basic Crisis Room Decorum

  4. 0:29

    Watch a Sneak Peek of Community Episode 4

  5. 2:01

    Sin City Saints: Official Trailer