Guidance Raise And Momentum – Garmin Stock Has Both
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Garmin (GRMN) lifted its fiscal 2026 revenue forecast alongside its second-quarter results on July 29, 2026. The stock has gained 15.2% since the close before that release, against 4.4% for the S&P 500. Management’s projections and the stock chart point in the same direction. Below is a look at what Garmin raised, what its share price chart shows, and what could lift the stock from here.
Garmin’s Guidance Raise
Garmin increased its fiscal 2026 revenue forecast to $8.05 billion on July 29, up from the $7.9 billion projected in its April 29 release. Management also raised its forecast for pro forma earnings per share, the company’s own adjusted measure, to about $10 for the year from what it called its previous guidance of $9.65. Executives noted the first half had run ahead of their expectations.
Management expects the fitness segment to contribute the most to growth in 2026. Fitness was already Garmin’s largest segment in fiscal 2025, generating revenue of $2.36 billion, up 32.8% from a year earlier.
Profit rose faster than sales in the quarter ended June. Operating margin reached 30.4%, up from 26.0% a year earlier, and management credited most of the gain in margins to a better product mix. A $21 million tariff refund also helped, and the full-year gross margin forecast assumes no further refunds. The tax rate forecast increased to 16.5% for the year from 16% before.
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What We See In Garmin’s Chart
Garmin stock closed at $291.13 on October 21, 2026, sitting 2.3% above its 50-day average, the average closing price over the last 50 trading days. The 50-day average remains above the 200-day average, the same measure over 200 trading days, and the stock trades 16.6% above that longer average. Garmin’s uptrend is intact across both averages.
Garmin stock gained 17.3% from the close on July 28 to the close on July 30, capturing the two sessions around the release, while the S&P 500 was roughly flat at 0.1%. The quarter’s results and the raised forecast came out together, so that price move reflects both. Since July 30, the shares have slipped 1.8%, while the S&P 500 gained 4.3%. The stock has held most of its jump from the release, but it has trailed the broader market since.
Is There Room Left To Run For Garmin Stock?
Garmin can meet its raised forecast with slower growth than it managed in the first half. The updated forecast leaves $4.27 billion of revenue for the third and fourth quarters of fiscal 2026, which is 9.7% more than in the same two quarters of fiscal 2025. In the first half, revenue rose 12.7% from a year earlier.
Management has named two drags on the back half. The company expects revenue in its auto OEM segment to fall against 2025 because BMW volumes have peaked. It also expects higher memory costs in the second half, an expense already allowed for in its gross margin forecast.
New products stand on the other side of the ledger. Garmin recently announced the CIRQL Smart Ring, a screenless wearable that needs no subscription, and management said it widens the market for its wellness devices. Against that, investors already pay 29.9 times Garmin’s earnings over the last twelve months, compared with 23.0 for the S&P 500.
The open questions are whether Garmin’s third and fourth quarters keep pace with the raised forecast, and whether fitness keeps growing faster than the rest of the company. Third-quarter revenue, due with the next report expected on October 28, is the first number to watch. A quarter that falls short of the forecast’s pace, or a close below the 50-day average, would leave Garmin with only one of the two things it has today.
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