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...."
Portfolio Pulse from Benzinga Newsdesk
Citron Research has posted a negative outlook on Garmin (GRMN), citing the impact of Apple's (AAPL) new Apple Watch OS11, which includes advanced fitness features. This development is expected to make Garmin's fitness products less relevant.
June 11, 2024 | 3:33 pm
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POSITIVE IMPACT
Apple's new Apple Watch OS11, which includes advanced fitness features, is expected to strengthen its position in the fitness accessory market. This could positively impact Apple's stock price.
The new Apple Watch OS11 includes features like satellite messaging, training load, and comprehensive vitals tracking, which are likely to attract more consumers and strengthen Apple's position in the fitness accessory market. This could positively impact Apple's stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Citron Research has posted a negative outlook on Garmin, citing that Apple's new Apple Watch OS11, with advanced fitness features, will make Garmin's fitness products less relevant. This could negatively impact Garmin's stock price.
The new Apple Watch OS11 includes features like satellite messaging, training load, and comprehensive vitals tracking, which are likely to overshadow Garmin's fitness products. This could lead to a decrease in demand for Garmin's products, negatively impacting its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100