Start the conversation
Apple's latest foray of fashion meeting practicality leaves no tech firm or designer safe these days. Shares of both GPS device manufacturer Garmin Ltd. (Nasdaq: GRMN) and watch designer Fossil Group Inc. (Nasdaq: FOSL) saw shares slump by 3.4% and 2.1%, respectively, on Tuesday after Apple CEO Tim Cook unveiled the iWatch. Given both companies' recent attempts to break into the smartwatch sector, shares slipped on investors' competitive concerns. Japanese watch and consumer electronics company Casio Computer Co. Ltd. (OTCMKTS ADR: CSIOY) also saw shares fall by 3.33% on the day.