Stock of the Day
Shares of SiRF Technology (SIRF) are strong again today, up +3% to $39. Brokerage firm Soleil came out with a note this morning about the strong quarter they believe GPS-maker Garmin (GRMN) is experiencing.
Given the rate at which GRMN is designing SIRF chipsets into its products, the firm thinks that SIRF could also be tracking to a better-than-expected quarter. They posit that SIRF could be tracking as high as 40-50% of GRMN's unit volume, above the firm's estimates of 35%.
GRMN's stock has been on fire recently. Competitor TOM Online (TOMO) is now close to breaking to new highs as well. I think all of this competition in the GPS market bodes well for SIRF, and I am looking for it to break to new highs.