Fourth Quarter and Full Year 2025 Earnings February 18, 2026 Safe Harbor Statement These materials include projections and other forward-looking statements regarding Garmin Ltd. and its business that are commonly identified by words such as "anticipates," "would," "may," "expects," "estimates," "plans," "intends," "projects," and other words or phrases with similar meanings. Any statements regarding the Company's expected fiscal 2026 GAAP and pro forma estimated earnings, EPS, and effective tax rate, and th ...

The GPS and wearables maker forecasts 2026 earnings and revenue that top analysts' expectations. ...

Apple (NASDAQ:AAPL), designs and sells consumer electronics, software, and online services, closed Tuesday at $263.88, up 2.26%. The stock moved higher after Wedbush reiterated its Outperform rating and $350 target, with investors watching Apple’s AI roadmap, including Siri upgrades, wearables, and the March 4 product event. The company’s trading volume reached 57.9 million shares, which is nearly 19% above compared with its three-month average of 48.8 million shares. Apple went public in 1980 and has grow ...

Core Viewpoint - Garmin Ltd. is recognized as a promising investment opportunity, particularly due to its diversified business lines and steady growth in the wearables sector, which benefits from positive trends in wellness [2]. Group 1: Company Overview - Garmin Ltd. is a Switzerland-based company known for its GPS navigation products, wearables, and wireless devices, catering to various markets including automotive, fitness, aviation, marine, and outdoor [5]. Group 2: Recent Developments - Barclays upgraded Garmin to Equal Weight from Underweight and raised its price target to $217 from $208, citing an "undemanding" valuation and positive momentum in wearables [2]. - Garmin and Meta introduced a new automotive OEM proof-of-concept at CES 2026, which integrates Meta's Neural Band technology with Garmin's Unified Cabin platform, allowing passengers to control infotainment features through hand gestures [3][4]. Group 3: Technology Innovation - The Neural Band developed by Meta utilizes electromyography (EMG) technology to read neural signals from wrist muscles, translating them into digital commands for a more intuitive interaction with devices [4]. - This innovation aims to enhance the in-car experience by moving beyond traditional touchscreens, focusing on passenger comfort and ease of use [3].

Core Insights - Berkshire Hathaway's investment portfolio, valued at over $300 billion, will reveal its final changes under Warren Buffett's leadership in the upcoming SEC Form 13F filing [2][3] - Buffett's investment principles are expected to continue influencing Berkshire Hathaway even after his departure as CEO at the end of 2025 [3][9] Berkshire Hathaway's Portfolio Changes - The upcoming SEC Form 13F will disclose changes made to Berkshire's investment portfolio during the fourth quarter, which will be particularly interesting as it marks Buffett's last days in control [2] - Buffett has been reducing his stake in Apple, selling down from 906 million shares at the end of 2023 to 238.2 million shares by the end of 2025, yet Apple still constitutes 19% of Berkshire's total portfolio [6][7] Key Holdings - Apple has been a cornerstone of Berkshire's portfolio, with Buffett expressing admiration for its products and customer loyalty [6] - American Express is a significant holding for Berkshire, with 151.6 million shares, reflecting Buffett's preference for companies with strong competitive advantages and loyal customer bases [8][10]

Group 1 - Meta Platforms, Inc. is considered one of the best stocks to buy in 2026 for beginners, with a Buy rating reiterated by Wedbush and a price target set at $880 [1] - Meta announced its "Meta Compute" initiative aimed at building AI infrastructure and managing its global data centers, with CEO Mark Zuckerberg highlighting the collaboration of key executives in this effort [2][3] - The company plans to build "tens of gigawatts this decade, and hundreds of gigawatts or more over time" to support its ambitious AI and superintelligence projects [3] Group 2 - Meta develops technological products that facilitate sharing, connection, business growth, and community engagement through various platforms including personal computers, mobile devices, VR, MR headsets, and wearables [4]

Group 1 - The company has implemented staff cuts affecting 10% of its workforce as part of a strategic shift in spending towards AI glasses and other wearable products [1]

Group 1 - SGA's U.S. Large Cap Growth Strategy reported a portfolio return of -1.3% (Gross) and -1.4% (Net) in Q3, underperforming the Russell 1000 Growth Index which returned 10.5% and the S&P 500 Index which returned 8.1% [1] - The investment objective of SGA is to focus on high-quality growth businesses expected to achieve consistent mid-teens earnings growth, along with stable revenue and cash flow [1] - In Q3, lower-quality stocks and cyclical industries outperformed, negatively impacting SGA's investment style [1] Group 2 - Apple Inc. (NASDAQ:AAPL) was highlighted as a key stock in SGA's third-quarter investor letter, with a one-month return of -3.15% and a 52-week gain of 11.49% [2] - As of December 31, 2025, Apple Inc. closed at $271.86 per share, with a market capitalization of $4.035 trillion [2] - Apple contributed positively to portfolio returns in Q3, benefiting from strong performance across all geographies, including a rebound in China [3] Group 3 - Apple managed to navigate tariff impacts effectively, with continued demand for its products supported by subsidies in China [3] - Despite challenges in talent acquisition and AI development, Apple's results remained robust, with management guiding for mid to high single-digit top-line growth in the upcoming quarter [3] - Strong buyback activity and stable valuation further supported Apple's stock performance, even as investor attention shifted towards AI [3]

Core Viewpoint - Apple is a significant player in the market with a market capitalization exceeding $4 trillion, making its performance crucial for investors, especially those with exposure to index funds or ETFs [1]. Group 1: Recent Performance - Apple has been one of the best-performing stocks recently, indicating a strong year and potential for continued success in 2026 for long-term investors [2]. - The company's market cap has surpassed $4 trillion, and it currently trades at 33 times forward earnings [4]. Group 2: Financial Highlights - Apple's services segment generated $100 billion in annual profits with a gross margin of 47.2% in the last quarter [4]. - The company maintains a net cash position of $34 billion, which supports dividends and share buybacks [4]. Group 3: Growth Concerns - Apple's growth rate has notably slowed in recent years, with negative growth in several quarters, raising concerns among investors [6]. - Sales growth for iPads and wearables was flat year-over-year in the most recent quarter, suggesting market saturation for iPhone upgrades and new product launches [6]. Group 4: Investment Risks - Recent investments in AI could risk margin dilution and lack clear monetization upside, potentially leading to lower stock performance over time [7]. - At a valuation of 33 times forward earnings, Apple is considered one of the most expensive stocks among the Magnificent 7 growth stocks relative to its growth rate [7]. Group 5: Bullish Outlook - Despite concerns, many investors remain optimistic about Apple's targeted approach to AI integrations, which could mitigate some of the negative impacts on margins [9].

Core Viewpoint - Meta Platforms Inc. is seen as a strong investment opportunity, with Citi maintaining a Buy rating and an $850 price target, following news of potential budget cuts in its Metaverse division [1]. Group 1: Strategic Realignment - Analysts view the planned budget cuts of up to 30% in the Metaverse division as a strategic realignment rather than a negative retrenchment, allowing for the reallocation of capital and talent towards Meta's Super Intelligence Labs and AI initiatives [2]. - The resource allocation debate between Reality & Research efforts and emerging AI opportunities is ongoing, but Citi believes the restructuring confirms Meta's focus on higher-return investments for growth [3]. Group 2: Budget Cuts and Future Investments - The majority of budget reductions will occur in Meta's virtual reality group and Horizon Worlds, with savings redirected towards futuristic projects like AI glasses and wearables [4]. - A company spokesperson indicated that the investment shift from Metaverse to AI glasses and wearables is due to positive momentum, with no broader changes planned beyond this [4]. Group 3: Company Overview - Meta Platforms Inc. operates major social media services, including Facebook, Instagram, WhatsApp, Messenger, and Threads, as well as virtual reality products like Oculus headsets [5].