Zombie apocalypse: Supposedly dead Garmin outperforms leading smartphone vendors

Apple posted a 20% profit decline in its spring quarter. Personal navigation device (PND) vendor Garmin just delivered a comparatively mild 7% earnings decline. If anyone had forecast this outcome two years ago, he would have been branded as a lunatic. Or possibly a dark prophet of apocalypse: “And when he had opened the third seal, I heard the third beast say, Come and see; And I beheld, and lo a PND vendor that was supposed to be dead outperformed the most profitable smartphone vendor in history in annualized profit trend comparison.” So Garmin’s share price went up 7% on its spring earnings report. Over

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