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Today I want to talk about a stock that was a trailblazer in the early 2000s - and it's making a comeback.
I want to take you back to a time (not too long ago) when your cell phone wasn't right in your pocket.
Instead of using your smartphone's Google Maps app, you kept an actual foldable map in your car's console for long drives. And the day you finally got a GPS device was a day to be celebrated; no more printed out directions or taking a wrong turn. Your GPS told you exactly where you needed to go.
There was no question about who the top dog of the industry was: Garmin Ltd. (NASDAQ: GRMN).
In the 1990s to 2008, Garmin was a rising star in consumer electronics - finding its place on car dashboards and hikers' backpacks. It was a name everyone knew - until the era of GPS-enabled smartphones hit the market.
In addition to built-in GPS capabilities, smartphones could deliver things the GPS device simply couldn't - like up-to-date traffic information.
Garmin's revenue hit an all-time high back in 2008, ringing in at $3.5 billion. And investors ate it up, rushing into the market to grab their piece. But that euphoria quickly dissipated, and by 2009, revenue had fallen to $2.9 billion amid an economy plagued by a recession. Even when the economy bounced back, however, Garmin's dashboard GPS business didn't.
But the company wasn't giving up.
And in 2015, Garmin decided to shift its focus to the more niche uses for its technology. The two significant areas of focus and growth have been fitness and the outdoors. Garmin accomplished this by developing smartwatches created for the modern-day athlete, including seasoned climbers and marathon runners.
These watches have continued to be increasingly popular, competing with Apple Inc.'s (NASDAQ: AAPL) smartwatch, even as the market becomes more and more saturated.
For instance, when looking at runner data uploads from major marathons - like New York, Boston, and events in Europe - more than 70% of participants were using a watch made by Garmin. And the stock reflects an optimistic outlook. Over the last 12 months, Garmin shares have moved up 13%, and it looks like the company is finally seeing the results it's been hoping for.
And that's exactly why I'm showing you how to cash in on this "comeback kid" stock...
Garmin's Gambit: Where's the Money?
As you know, Walmart has launched a program to deliver your items on the same day, built out an incredible app, and is looking forward to offering even more perks to its customers.
It's revamped its business to fit the current market needs. And that's exactly what Garmin is doing, as well.
This shift has been incredibly successful for Garmin's business and stock. And I think other companies should be taking notes - because with the way the world is changing, even the most established names will have to learn to adapt and get comfortable with meeting the ever-changing needs of the consumer.
That's the only way they'll be able to survive and grow in today's overly competitive market.
So, for me, when I look at Garmin, I see innovation - which is precisely what I'm looking for right now. And that's why I'm looking to add Garmin stock, currently sitting at around $97, to my portfolio lineup on any pullback that I see. And I think you should, too.
And in the meantime, you could be setting yourself up to add thousands to your portfolio.
You read that correctly... just 90 minutes of your time per week is all it takes to show you exactly how this revolutionary, just-released trading system works and how you can score big with it - regardless of what the markets are doing.
About the Author
Andrew Keene, editor of the 1450 Club, Super Options, and Project 303 at Money Map Press, is a globally known trader and a renowned expert on all things options.