Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, navigation-device maker Garmin (Nasdaq: GRMN) has received a distressing two-star ranking.

With that in mind, let's take a closer look at Garmin's business and see what CAPS investors are saying about the stock right now.

Garmin facts

Headquarters (Founded) Schaffhausen, Switzerland (2000)
Market Cap $6.68 billion
Industry Consumer electronics
Trailing-12-Month Revenue $2.71 billion
Management

CEO Dr. Min Kao (since 2002)

COO Clifton Pemble (since 2007)
Return on Equity (Average, Past 3 Years) 23.5%
Cash/Debt $1.48 billion / $0
Competitors

Apple (Nasdaq: AAPL)

Google (Nasdaq: GOOG)

Research In Motion (Nasdaq: RIMM)

Sources: S&P Capital IQ and Motley Fool CAPS. 

On CAPS, 9% of the 4,872 members who have rated Garmin believe the stock will underperform the S&P 500 going forward. These bears include paids and Jeffrey2012. 

This past summer, paids touched on the main concern surrounding the stock: "GPS on all the new phones will kill Garmin. Too much competition and this company did not adapt quickly enough to changing market conditions."

Over the next five years, in fact, Garmin is expected to grow its bottom line at a paltry rate of 4% annually. That's naturally much slower than smartphone players like Apple (22%), Google (19%), and Research In Motion (9%).

CAPS member Jeffrey2012 elaborates on the bear case:

The [GPS] market is suffering from a slow death as its uniqueness continues to dwindle. Its main issue is the onslaught of smartphones with gps and cheap knockoffs from other manufacturers.

Just looking at stores such as [Wal-Mart] and [Best Buy], there is hardly an urgency from customers looking to buy a garmin.

The stock isn't going to disappear since it is quite shareholder friendly. But unless it can turn around the business, it's going to continue shrinking and well, that can only mean a shrinkage of the stock as well.

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