Ivan Feinseth
expects the company's ongoing innovation and new launches, strength in aviation, and growing opportunities in wellness and automotive OEM businesses to reaccelerate trends. Feinseth is particularly confident about Garmin emerging as an industry-leading automotive OEM supplier. The company's automotive OEM revenue increased by 11% to $284 million in 2022. The analyst expects the automotive segment to see annual growth of 40%, reaching a revenue run rate of $800 million by 2025. He expects this growth to be led by the company's industry-leading product categories of in-cabin domain controllers, infotainment systems and other in-cabin connected interfaces.
The same “analysts” who were bullish on SVB?
Dunno about any of the others, but the issue with Garmin fitness products is that they are just not that good. Competition has caught and passed them, not 'headwinds'.
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