Lately, there’s been some skepticism on whether Garmin (GRMN) is ever again going to enjoy monster growth. The world’s number one GPS manufacturer has seen its stock price tumble 60% in the last four months, and is currently still in freefall.
So what gives? Has the Street given up on one of its former high flyers? They’ve certainly got an excuse. Not only did Garmin’s average unit selling price drop precipitously last quarter, but their CFO recently predicted it will drop another 20% in 2008.
Yet there’s another side to the story which we’ve learned through recent ChangeWave surveys - Garmin has now achieved near total domination of the U.S. GPS marketplace.
During February we conducted two surveys on GPS - one on consumer trends (n = 3,773) and the other on corporate purchasing trends (n = 2,013).
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