Garmin Flying High
"Buying all their distributors will help them make more short-term money but it is not a forward-looking strategy," he says. "The question is do they simply want to maximize their profit while they can or is there a bigger long-term plan?"
Still, Biondo says valuation and long-term strategy concerns aside, Garmin's fundamentals are strong and the company will see healthy growth in the next few quarters.
"In a few years, every car is going to have a GPS system so there's plenty of room for Garmin to go," he says.
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