Should Alphabet's Fitbit Acquisition Scare Garmin Investors?
GPS device maker, Garmin Ltd, (NASDAQ: GRMN) has worked toward diversifying away from past reliance on automotive personal navigation devices as that market has declined with GPS now commonly built in, or conveniently available as a phone app.A part of Garmin's strategy has shifted to fitness wearables, and Alphabet's (NASDAQ: GOOGL) announced acquisition of Fitbit (NYSE: FIT) may be a new threat to Garmin's business. This is one of the big risks of investing in tech stocks: the potential of being disrupted.
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Source Fool.com
