Sunday, May 18, 2008

Garmin GRMN GPS Stock Ready to Rock NuviPhone

Garmin has seen many low blows lately in the stock market. First, the stock had gotten cut in half this year with no recovery. Second, they came out and warned on earnings, scaring wall street, and third, they were victim to a Tom Tom downgrade which sent their stock in a tailspin all the way down to $40.

Earlier this month Garmin released earnings and given the economic slowdown in the USA....there was no surprise that they would miss earnings. The key thing I was looking for was earnings guidance. Turns out they guided right in line. Since forming a double bottom after earnings, GRMN stock has finally recovered to close 5/16/08 over $50 for the first time since the Tom Tom warning.

Whats next you ask? Garmin will start a new uptrend and eventually hit a target of $75 recently given by I will sell this stock around Thanksgiving when it is alot higher.

Don't forget.....the most exciting product is yet to come... The NuviPhone which is Garmins touch screen smart phone focused on GPS.

When this phone comes out in the 4th quarter.....It will have consumers and investors very excited!

For more info......check out my website