The Smartest Growth Stock to Buy With $2,000 Right Now
If you're looking for an attractive growth stock in this expensive market, consider Garmin (NYSE: GRMN) for your next purchase. Sure, the tech giant's shares have rallied since early 2023, and the stock's valuation is near a 10-year high. Yet Garmin has earned its premium valuation, which doesn't preclude excellent returns from here.Let's take a closer look at why the GPS device stock deserves a spot at the top of your watchlist.Garmin just wrapped up a phenomenal fiscal 2024. The company revealed in mid-February that operating income rose to $1.6 billion from $1.1 billion, pushing the operating profit margin to 25% of sales, up from 21% of sales in 2023. Revenue growth was also impressive, despite cautious consumer spending, as net sales jumped 20% thanks to gains in each of Garmin's main product categories. The fitness division stood out with a 32% revenue spike for the year, while its aviation unit was the worst performer with a 4% uptick.Continue reading
If you're looking for an attractive growth stock in this expensive market, consider Garmin (NYSE: GRMN) for your next purchase. Sure, the tech giant's shares have rallied since early 2023, and the stock's valuation is near a 10-year high. Yet Garmin has earned its premium valuation, which doesn't preclude excellent returns from here.
Let's take a closer look at why the GPS device stock deserves a spot at the top of your watchlist.
Garmin just wrapped up a phenomenal fiscal 2024. The company revealed in mid-February that operating income rose to $1.6 billion from $1.1 billion, pushing the operating profit margin to 25% of sales, up from 21% of sales in 2023. Revenue growth was also impressive, despite cautious consumer spending, as net sales jumped 20% thanks to gains in each of Garmin's main product categories. The fitness division stood out with a 32% revenue spike for the year, while its aviation unit was the worst performer with a 4% uptick.
