Citron Research Posts On X "$GRMN Negative. While the street is buzzing about $AAPL's new AI integration, the real loser from their developer conference seems to be $GRMN. Despite $GRMN trading at historically high multiples, its core fitness products just took a hit. With the new Apple Watch OS11 making Apple Watch the top fitness accessory, including satellite messaging, training load features, and comprehensive vitals tracking, Garmin's fitness products have become less relevant...."

Author: Benzinga Newsdesk | June 11, 2024 11:33am

https://x.com/CitronResearch/status/1800551358879117715

$GRMN Negative. While the street is buzzing about $AAPL's new AI integration, the real loser from their developer conference seems to be $GRMN. Despite $GRMN trading at historically high multiples, its core fitness products just took a hit. With the new Apple Watch OS11 making Apple Watch the top fitness accessory, including satellite messaging, training load features, and comprehensive vitals tracking, Garmin's fitness products have become less relevant. Credit to Garmin for evolving from personal navigation devices to its current state, but it shouldn't be trading at historically high multiples as its fast-growing fitness segment just hit a wall in Cupertino.

Posted In: AAPL GRMN