News about consumer electronics

Garmin (GRMN) raised its fiscal 2026 revenue forecast to $8.05 billion from $7.9 billion and its pro forma EPS forecast to about $10 from $9.65, alongside its second-quarter results. Operating margin reached 30.4% in the quarter ended June, up from 26.0% a year earlier, helped by a better product mix and a $21 million tariff refund. The stock rose 15.2% since the close before the release, versus 4.4% for the S&P 500, but has slipped 1.8% since July 30 while the index gained 4.3%. To meet the forecast, third- and fourth-quarter revenue must reach $4.27 billion, up 9.7% from a year earlier, slower than the 12.7% first-half growth as BMW volumes have peaked. Shares trade at 29.9 times trailing twelve-month earnings, versus 23.0 for the S&P 500.

Bloomberg's Mark Gurman reports that Apple will unveil a new Apple TV 4K and HomePod mini on October 13, with preorders expected this week and stores receiving the devices on October 30, though Apple has only confirmed the date through a teaser. The stock trades near $337 after falling more than 2.5% on October 9 on a Nikkei Asia report that Apple cut iPhone 18 Pro component orders. The Apple TV 4K will use an A19 chip and the HomePod mini an S10, both relying on Siri AI, while the HomeView smart home hub follows around mid-November. Revenue from Wearables, Home and Accessories fell from $41.24 billion in fiscal 2022 to $35.69 billion in fiscal 2025, while Services grew about 60% to $109.16 billion and now makes up 26.2% of sales. The author argues that a product refresh alone will not reverse this trend, and that the stronger case is the pull-through to Services, which TIKR's data cannot isolate.