What happened to all those folks that said GRMN was toast?? Where did all those bearish analysts go with their childish bearish calls?
Where is the NY Times, who said that an app from Apple is all we'll need, and nothing from Garmin?
Where are those folks now?
But it sure would of been nice to have that story before it happened wouldn't it?
Oh, whoops--you did! Right here!! On July 23!! Where I said GRMN was poised to break out.
On January 6, Goldman put out a conviction sell on GRMN when it was 20. I highlighted that piece here. On April 30, with GRMN at 25, Goldman raised it to a sell, with a target of 15.
Yesterday, it finally broke out of the channel it has been trading in. GRMN doesn't report earnings until August. The stock is still a sell by most firms; two weeks ago the NY Times said that the iPhone compass will displace GRMN, and that it will soon go the way of the tape deck.
So why then, is the stock on the cusp of a breakout?
Maybe because the NY Times can't read the tape!
Let me indulge myself again, now that GRMN is at 33 and up 6!
And you readers from GRMN?
Good job spanking Wall Street, who didn't care enough about your company to do proper homework on it!!