Garmin (NYSE:GRMN) Stock

Garmin

Garmin produces GPS-enabled hardware and software for five verticals: fitness, outdoors, auto, aviation, and marine. The company relies on licensing mapping data to enable its hardware specialized for often niche activities like scuba diving or sailing, among many others. Garmin operates in 100 countries and sells its products via distributors as well as relationships with original equipment manufacturers.

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Garmin&#39;s Growth Signals Wearables Surge: Stocks to Watch

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All three major U.S. indices are red in Wednesday&#39;s midday trading as investors weighed President Donald Trump&#39;s proposed tariffs on auto imports, pharmaceuticals and semiconductors.

Trump Calls For More Tariffs, Federal Reserve Minutes On Deck: What&#39;s Driving Markets Wednesday?

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Garmin Posts Better-Than-Expected Results, Joins SolarEdge Technologies, Compass, Appian And Other Big Stocks Moving Higher On Wednesday

Garmin Ltd

Barclays analyst George Wang maintains Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) with a Underweight and raises the price target from $158 to $188.

Price Target

Analyst Ratings

Barclays Maintains Underweight on Garmin, Raises Price Target to $188

JP Morgan analyst Joseph Cardoso maintains Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) with a Neutral and raises the price target from $219 to $260.

JP Morgan Maintains Neutral on Garmin, Raises Price Target to $260

All three major U.S. indices are red in Wednesday's midday trading as investors weighed President Donald Trump's proposed tariffs on auto imports, pharmaceuticals and semiconductors. An official announcement is<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43807804/us-stocks-likely-to-open-lower-following-fresh-records-from-previous-session-expert-says-dont-be-scared-of-new-highs"> expected as soon as April 2.&nbsp;</a>
Markets are anticipating the release of the most recent FOMC minutes later in the trading day which will give further insight into the Federal Reserve's policy outlook. The Fed held interest rates steady at its last meeting and has signaled it is in no hurry to lower rates.&nbsp;
Natural gas futures were up 5%, closing in on a two-year high, as extreme <a href="https://www.benzinga.com/general/travel/25/02/43814828/life-threatening-cold-air-snow-brings-travel-delays-higher-heating-costs">cold temperatures</a> across the U.S. drove higher heating demand and froze oil and gas wells, disrupting production. Adding to the pressure on prices are record-level gas flows to LNG export plants. The United States Natural Gas Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNG#NYSE">UNG</a>) ETF was up more than 5% midday Wednesday.&nbsp;
Read Next: <a href="https://www.benzinga.com/general/travel/25/02/43814828/life-threatening-cold-air-snow-brings-travel-delays-higher-heating-costs">&#8216;Life-Threatening&#8217; Cold Air, Snow Brings Travel Delays, Higher Heating Costs</a>
The yield on the 10-year US Treasury note held above 4.5% on Wednesday after Trump issued new tariff threats which fueled inflation concerns. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rose 0.03% to $88.13.&nbsp;
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose to above the $96,000 level as crypto markets recovered some of Tuesday's losses.&nbsp;
<h2 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h2>
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1 day % chg.</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,037.70</td>
<td>-0.02%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,132.74</td>
<td>0.05%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,465.91</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,284.05</td>
<td>0.28%</td>
</tr>
</tbody>
</table>
</figure>
According to Benzinga Pro data:
<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched up 0.05% to $611.78</li>
<li>The SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was down 0.17% at $445.16. </li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) was flat at $539.41. </li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.4% to $226.31.</li>
<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) dipped 0.38% to $225.52. </li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) rose 1.36% to $92.54. </li>
</ul>
<h2 class="wp-block-heading">Wednesday's Stock Movers:&nbsp;</h2>
Shares of EV truck maker Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>) plummeted after the <a href="https://www.benzinga.com/news/asset-sales/25/02/43811409/nikola-files-for-bankruptcy-seeks-auction-for-sale-of-its-assets">company filed</a> for Chapter 11 bankruptcy, seeking to auction its assets while continuing limited operations through March 2025. Another small EV company, Mullen Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>), shares are down after the company reported significant losses in its fourth-quarter earnings release before the opening bell.&nbsp;
Stocks reacting to company earnings reports included:&nbsp;
<ul>
<li>Devon Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>)&nbsp;</li>
<li>Bumble, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>)&nbsp;</li>
<li>Shift4 Payments, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FOUR#NYSE">FOUR</a>)&nbsp;</li>
<li>Cadence Design Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>)</li>
<li>Medifast, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MED#NYSE">MED</a>)&nbsp;</li>
<li>Appian Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPN#NASDAQ">APPN</a>)&nbsp;</li>
<li>Arista Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NASDAQ">ANET</a>)&nbsp;</li>
<li>SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>)&nbsp;</li>
<li>Global-E Online Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLBE#NASDAQ">GLBE</a>)&nbsp;</li>
<li>Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>)&nbsp;</li>
</ul>
Companies reporting after Wednesday's closing bell include:&nbsp;
<ul>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>)&nbsp;</li>
<li>Toast, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOST#NYSE">TOST</a>)&nbsp;</li>
<li>The Cheesecake Factory Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAKE#NASDAQ">CAKE</a>)&nbsp;</li>
<li>Alamos Gold Inc. &nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>)</li>
<li>Borr Drilling Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BORR#NYSE">BORR</a>)&nbsp;</li>
<li>Taseko Mines, Ltd. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/TGB#AMEX">TGB</a>)&nbsp;</li>
<li>Equinox Gold Corp.&nbsp; (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EQX#AMEX">EQX</a>)&nbsp;</li>
<li>B2Gold Corp. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BTG#AMEX">BTG</a>)&nbsp;</li>
<li>Vale S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>)&nbsp;</li>
<li>Exact Sciences Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXAS#NASDAQ">EXAS</a>)&nbsp;</li>
<li>Grab Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRAB#NASDAQ">GRAB</a>)&nbsp;</li>
</ul>
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Photo: gary yim/Shutterstock.com

Trump Calls For More Tariffs, Federal Reserve Minutes On Deck: What's Driving Markets Wednesday?

U.S. stocks were lower, with the Dow Jones falling over 200 points on Wednesday.
Shares of Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) rose sharply during Wednesday's session after the company reported better-than-expected fourth-quarter financial results and FY25 outlook. It also recommended <a href="https://in.benzinga.com/25/02/43812509/garmin-q4-earnings-wearables-and-adventure-watches-drive-growth-raises-dividend-20-projects-68-billion-revenue-for-2025">20% dividend hike</a>.
Garmin reported fiscal fourth-quarter 2024 revenue growth of 23% year-on-year to $1.82 billion, beating the analyst consensus estimate of $1.70 billion. The GPS navigation and wearable technology company's proforma EPS of $2.41 beat the analyst consensus estimate of $2.03.
Garmin shares jumped 14.3% to $245.41 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Alpha Technology Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATGL#NASDAQ">ATGL</a>) shares jumped 61.3% to $49.21.</li>
<li>SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) gained 26.4% to $21.40 after the company reported better-than-expected fourth-quarter sales results and issued first-quarter revenue guidance with its midpoint above estimates.</li>
<li>Compass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COMP#NYSE">COMP</a>) surged 23.8% to $9.89 after the company reported better-than-expected fourth-quarter revenue results and issued first-quarter revenue guidance above estimates.</li>
<li>Hims &amp; Hers Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) gained 22.6% to $71.75 after the company announced plans to introduce at-home lab testing through its platform. Also, Canaccord Genuity maintained a Buy rating on the stock and raised its price target from $38 to $68.</li>
<li>The Andersons, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANDE#NASDAQ">ANDE</a>) rose 21.1% to $49.38 after the company reported fourth-quarter earnings and revenue above estimates.</li>
<li>Appian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPN#NASDAQ">APPN</a>) gained 20.8% to $38.69 after the company reported better-than-expected quarterly EPS and revenue.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) gained 15.5% to $64.47 on possible continued momentum from last week. Investors await an update from the company regarding its delayed filing.</li>
<li>Viking Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>) gained 14.4% to $33.46 after Scotiabank initiated coverage on the stock with a Sector Outperform rating and announced a $102 price target.</li>
<li>ImmunityBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>) rose 14.4% to $3.8350 after the company announced it received FDA authorization for an expanded access program offering alternative source of BCG for bladder cancer patients.</li>
<li>Penumbra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEN#NYSE">PEN</a>) rose 13.2% to $306.92 after the company reported fourth-quarter earnings and revenue above estimates.</li>
<li>Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) gained 8.8% to $37.97 following upbeat quarterly earnings.</li>
<li>RB Global, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) rose 8.8% to $105.06 following better-than-expected fourth-quarter financial results.</li>
<li>Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) gained 7.7% to $62.36 after the company announced the introduction of its Mplab AI coding assistant, which leverages the power of AI to assist software developers and engineers in writing and debugging code.</li>
<li>Analog Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) gained 7.3% to $236.22 after the company reported better-than-expected quarterly EPS and revenues.</li>
<li>Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) rose 5.8% to $51.70 following upbeat earnings.</li>
</ul>
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GOOGL

CNBC Halftime Report Final Trades: Alphabet, Servicenow, CNX Resources, Garmin

On Wednesday, Garmin Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) reported fiscal fourth-quarter 2024 revenue growth of 23% year-on-year to $1.82 billion, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/n43808754/garmin-announces-fourth-quarter-and-fiscal-year-2024-results" rel="noreferrer noopener">analyst consensus estimate of $1.70 billion</a>.&nbsp;
The GPS navigation and wearable technology company&#8217;s proforma EPS of $2.41 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $2.03</a>.&nbsp;The stock gained after the report.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/25/02/43691982/iron-mountain-q4-earnings-storage-and-data-center-revenue-growth-dividend-climbs-10-strong-2025-outlook" rel="noreferrer noopener">Iron Mountain Q4 Earnings: Storage And Data Center Revenue Growth, Dividend Climbs 10%, Strong 2025 Outlook</a>
Segments: Revenue from Fitness grew by 31%&nbsp;year over year&nbsp;to $539.31 million, led by growth in wearables. Outdoor revenue increased by 29%&nbsp;year over year&nbsp;to $629.37 million, primarily due to growth in adventure watches.
Aviation revenue rose 9% year over year&nbsp;at $236.88 million,&nbsp;driven by the OEM and&nbsp;aftermarket product categories. Marine revenue increased by 5%&nbsp;year over year&nbsp;to $251.26 million, with growth across multiple categories. Auto OEM&nbsp;grew 30% Y/Y&nbsp;to $165.75 million, primarily driven by growth in domain controllers.
The gross margin increased 100 bps to 59.3%, and the&nbsp;operating margin climbed to 28.3% from 23.0% a year ago.
Garmin generated $399.2 million in free cash flow for the quarter, compared to $417.3 million a year ago.&nbsp;As of December 28, 2024, it&nbsp;held $3.7 billion in cash and equivalents.
Dividend: The board plans to propose an annual dividend hike of 20% to $3.60 per share ($0.90 per share payable quarterly).
FY25 Outlook: Garmin&nbsp;expects revenue of $6.80 billion versus the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $6.72 billion</a>. It&nbsp;expects a proforma EPS&nbsp;of $7.80&nbsp;against the&nbsp;consensus of $7.74.&nbsp;
Garmin&nbsp;stock surged 75% in the last 12 months as it has beaten analyst consensus estimates, at least for the preceding six quarters.
Price Action: GRMN stock is up 9.65% at $235.50 premarket at the last check on Wednesday.
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Photo by Dontree_M via Shutterstock

Earnings

Guidance

Dividends

Garmin Q4 Earnings: Wearables and Adventure Watches Drive Growth, 20% Dividend Hike, Stock Soars

WIIM

Garmin shares are trading higher after the company reported better-than-expected Q4 financial results and FY25 outlook. It also recommended 20% dividend hike.

Dividend Recommendation:
The Board of Directors intends to recommend to the shareholders for approval at the annual meeting to be held on June 6, 2025, a cash dividend in the amount of $3.60 per share, payable in four equal installments on dates to be determined by the Board. The Board currently anticipates the scheduling of the dividend in four installments as follows:
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">Dividend Date</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Record&nbsp;Date</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Dividend Per&nbsp;Share</td>
</tr>
<tr>
<td colspan="1" rowspan="1">June 27, 2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">June 16, 2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">$0.90</td>
</tr>
<tr>
<td colspan="1" rowspan="1">September 26, 2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">September 12, 2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">$0.90</td>
</tr>
<tr>
<td colspan="1" rowspan="1">December 26, 2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">December 12, 2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">$0.90</td>
</tr>
<tr>
<td colspan="1" rowspan="1">March 27, 2026</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">March 13, 2026</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">$0.90</td>
</tr>
</tbody>
</table>
</figure>
In addition, the Board has established March 28, 2025 as the payment date and March 14, 2025 as the record date for the final dividend installment of $0.75 per share, per the prior dividend approval at the 2024 annual shareholders' meeting. The first, second and third payments of $0.75 per share were made on June 28, 2024, September 27, 2024, and December 27, 2024, respectively.&nbsp;

Garmin Board Recommends Raising Annual Dividend By 20% To $3.60/Share From $3.00/Share Prior, Payable In 4 Quarterly Installments Of $0.90/Share

2025 Fiscal Year Guidance(2):
We expect full-year 2025 revenue of approximately $6.80 billion, an increase of approximately 8% over 2024. We expect our full-year pro forma EPS to be approximately $7.80 based upon gross margin of approximately 58.7%, operating margin of approximately 25.0% and pro forma effective tax rate of approximately 16.5%.
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025 Guidance</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Revenue</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">$6.80B</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Gross Margin</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">58.7&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Operating Margin</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">25.0&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Pro forma Effective Tax Rate</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">16.5&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Pro forma EPS</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">$7.80</td>
</tr>
</tbody>
</table>
</figure>
&nbsp;

Garmin FY25 Outlook: Adj EPS $7.80 vs $7.74 Estimate; Sales $6.80B vs $6.72B Estimate

Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) reported quarterly earnings of $2.41 per share which beat the analyst consensus estimate of $2.03 by 18.72 percent. This is a 40.12 percent increase over earnings of $1.72 per share from the same period last year. The company reported quarterly sales of $1.82 billion which beat the analyst consensus estimate of $1.70 billion by 7.26 percent. This is a 22.86 percent increase over sales of $1.48 billion the same period last year.

Earnings Beats

Garmin Q4 2024 Adj EPS $2.41 Beats $2.03 Estimate, Sales $1.82B Beat $1.70B Estimate

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Earnings Scheduled For February 19, 2025

Garmin Announces Descent G2 Rugged Watch-style Dive Computer

Rumors

Watching Garmin; Hearing Traders Circulate Investor Business Daily SwingTrader Sells Stock

Garmin Announced The ECG App Is Now Available To Customers In Australia And The European Union With A Compatible Garmin Smartwatch, Including Venu 3 Series, Fēnix 8 Series And More

Garmin Announced A New Montana Series – The Montana 710, Montana 710i And Robust Montana 760i – To Its Collection Of Handheld GPS Navigators

Tigress Financial analyst Ivan Feinseth maintains Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) with a Strong Buy and raises the price target from $215 to $265.

Tigress Financial Maintains Strong Buy on Garmin, Raises Price Target to $265

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly set to introduce satellite texting and a non-invasive blood pressure tool in its upcoming Watch Ultra.
What Happened: &nbsp;The satellite feature will allow users to send texts via Globalstar Inc.&#8217;s (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#AMEX">GSAT</a>) satellites without cellular or Wi-Fi, <a href="https://www.bloomberg.com/news/articles/2024-12-10/apple-plans-apple-watch-ultra-3-next-year-with-satellite-texting-and-5g">reported</a> Bloomberg, citing people familiar with the matter.
This development positions the Ultra as the first mainstream smartwatch with satellite communication, potentially reducing the need for standalone devices like Garmin Ltd.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) inReach.
See Also: <a href="https://www.benzinga.com/24/12/42381987/apple-faces-12b-lawsuit-for-dropping-csam-detection-while-google-and-meta-set-higher-standards-for-child-safety?itm_source=parsely-api">Apple Faces $1.2B Lawsuit Over Child Sexual Abuse Material Detection On iCloud — Tech Giant Says, &#8216;Urgently And Actively Innovating&#8217;</a>
The blood pressure monitoring tool, also expected in 2025, aims to alert users of potential hypertension, though it won&#8217;t provide specific readings, the report noted.
However, the feature has been delayed before.
Why It Matters: Apple intends to boost smartwatch sales by introducing new features after a period of stagnation.
The company's Wearables, Home, and Accessories division, which includes watches, has experienced a decline in revenue over the past two years.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
In October, when Apple reported its <a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in">fourth-quarter revenue</a>, Wearables, Home, and Accessories encompassed to $9.04 billion, down from $9.32 billion the previous year.
Last month, <a href="https://www.benzinga.com/news/24/11/41688837/apple-satellite-connectivity-provider-globalstar-stock-surges-after-deal-extension">Apple expanded its partnership with Globalstar</a> with a $1.1 billion services agreement extension.
According to Statista, as of the second quarter of 2024, Apple leads the smartwatch market with a 19% share of global shipments.
Price Action: Apple&#8217;s stock rose by 0.41% on Tuesday, ending the day at $247.77. However, after hours, it declined by 0.028%, settling at $247.70, according to <a href="http://pro.benzinga.com/">Benzinga Pro data</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Photo courtesy: Apple
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<li><a href="https://www.benzinga.com/24/12/42379986/metas-llama-3-3-70b-outshines-rivals-nvidias-liquid-cooling-breakthrough-xai-raises-6b-this-week-in-ai?itm_source=parsely-api">Meta&#8217;s Llama 3.3 70B Outshines Rivals, Nvidia&#8217;s Liquid-Cooling Breakthrough, xAI Raises $6B: This Week In AI</a></li>
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GSAT

Apple Watch Ultra Could Feature Satellite Texting And Blood Pressure Measurements: Here's What We Know

As the holiday shopping season begins to ramp up, the Consumer Discretionary sector is making waves. It is outperforming <a href="https://www.benzinga.com/topic/s-p-500-index">the broader S&amp;P 500 Index</a>. The sector posted an impressive 11.02% gain in November, significantly outpacing the S&amp;P 500&#8217;s 3.42% increase.
The Consumer Discretionary Select Sector SPDR ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) serves as a barometer of companies in the consumer discretionary sector in the U.S. The S&amp;P 500 Index, which tracks the board market, is mostly widely tracked by the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), the iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>), and the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>).
Driving the sector's strength are notable names like Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Garmin Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), and Tapestry Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPR#NYSE">TPR</a>), all of which posted massive gains in November, signaling robust consumer spending trends and holiday optimism.
<h2 class="wp-block-heading">Tesla: Powering Ahead With A 33% Surge</h2>
With a dominant 17.51% weight in the Consumer Discretionary index, Elon Musk&#8216;s Tesla remains a force to be reckoned with, soaring 33% in November. The electric vehicle giant&#8217;s continued innovation and market leadership in EVs, paired with strong investor sentiment, have propelled it to the front of the pack. 
Whether it&#8217;s the new vehicle models or expanded global reach, Tesla&#8217;s meteoric rise is hard to ignore.
Read Also: <a href="https://www.benzinga.com/24/12/42262279/a-year-after-teslas-first-cybertruck-deliveries-the-truck-has-a-long-way-to-go-to-meet-musks-goals">A Year After Tesla&#8217;s First Cybertruck Deliveries, The Truck Has A Long Way To Go To Meet Elon Musk&#8217;s Goals</a>
<h2 class="wp-block-heading">Garmin: Navigating To New Heights</h2>
Garmin Ltd. also made waves, with a solid 27.86% jump. Despite its smaller index weight of 0.82%, Garmin&#8217;s strong performance is a testament to the brand's loyal customer base and continued innovation in GPS technology and fitness wearables. 
As consumers look to track their health, fitness, and travel plans this season, Garmin is in the driver's seat.
<h2 class="wp-block-heading">Tapestry: A Fashionable Trendsetter</h2>
Tapestry, the parent company of luxury brands like Coach and Kate Spade, saw a robust 27.02% gain in November, securing its place as a leading performer. The company's strong product offerings and growing consumer demand for luxury goods are positioning it for a stellar holiday season.
With a 0.36% weight in the index, Tapestry is a notable outlier, proving that even in challenging times, consumers are willing to splurge on high-quality fashion.
<h2 class="wp-block-heading">Other Standouts</h2>
It's not just the big names; a slew of other Consumer Discretionary stocks also posted solid gains in November. Booking Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) was up 17.49% and Expedia Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) gained 16.22%, benefiting from increased travel demand as holiday plans ramp up.
Cruise operators Royal Caribbean Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), up 16.16%, and Carnival Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>), up 15.07%, surged amid optimism around travel bookings. Outdoor apparel maker Deckers Outdoor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>), rising 15.58%, and Domino's Pizza Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>), up 15.26%, also stood out as consumers embraced leisure and discretionary spending.
The strong showing of the Consumer Discretionary sector signals that Americans are feeling confident about their spending habits heading into the holiday season. 
With top performers like Tesla, Garmin, and Tapestry leading the charge, the sector is on track to continue its upward momentum. As the holidays approach, investors may want to keep a close eye on these names as they navigate the season of giving.
Read Next: 
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<li><a href="https://www.benzinga.com/24/12/42265010/amazon-and-walmart-dominate-black-friday-as-online-sales-soar-146">Amazon And Walmart Dominate Black Friday As Online Sales Soar 14.6%</a></li>
</ul>
Photo: Shutterstock

Long Ideas

BKNG

DECK

EXPE

TSLA

Holiday Momentum Pushes Retail, Leisure Stocks Past S&P 500 – Tesla, Garmin, Tapestry Stand Out

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Garmin expands ECG App to customers in Australia and the European Union

Garmin introduces the APK 10 Autopilot Keypad for simplified control

Level up your golf game with vibrant new Approach S44 and S50 smartwatches from Garmin

Garmin unveils Approach G20 Solar, the first GPS golf handheld with unlimited battery life in sunny conditions

Garmin's new all-in-one SERV+ display offers a smart RV experience

Garmin named one of the Most Innovative Fitness and Wellness Companies of 2025 by Athletech News

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