Meet the Monster Stock That Continues to Crush the Market

It hasn't drawn the Wall Street attention of its bigger rivals, but there was an electronics maker that more than doubled the stock market's booming returns in 2024. No, I don't mean Apple, which just edged past the 23% gain of the S&P 500 index. This company, a maker of a wide range of consumer products, outperformed by achieving strong profitability and sales growth in some highly competitive industry niches.The stock in question is Garmin (NYSE: GRMN), which has more than doubled over the past five years compared to the wider market's 82% rise since early 2020. Let's take a look at whether there's more room to run for this monster stock.Garmin is a different company today as compared to when its automotive GPS device dominated the business. Now it maintains five major sales categories, with car navigation being the smallest contributor to annual sales. Those divisions include its fitness segment, home to several popular smartwatch brands, and its marine unit, which markets boat navigation systems. As I said, this is a very different company from the GPS expert you used to know.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool