Why Garmin Stock Soared in July and Is at an All-Time High

Garmin stock surged 53% year-to-date and 23.7% in July following strong Q2 earnings with record revenue growth of 11% YoY and raised full-year guidance. The fitness segment led growth at 25% YoY, driven by advanced wearables. Despite a forward P/E of 31, the company's $4.4 billion cash position with zero debt effectively lowers valuation to under 29, suggesting shares remain reasonably valued for long-term investors.