Garmin (NYSE: GRMN) just concluded an unusually weak fiscal year that saw sales drop while profit margins declined. The tech device giant was pressured by collapsing demand for its fitness products after soaring growth in earlier phases of the pandemic. Currency exchange rates and rising costs didn't help, either.

But smart investors know there's much more to this business than you might glean from simply relying on the last few quarters of results. Garmin has a proven ability to win market share across a wide array of tech niches. It's a highly profitable business, too, despite earnings pressures that will carry on into 2023.

Let's look at some standout reasons to like Garmin stock.

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Source Fool.com