how gps worksI wrote a few months ago about a stock that I thought was very undervalued. Frankly, I stated that it was(and still is) the only technology stock that I own. The company is Garmin (NasdaqGS: GRMN). Today the stock is trading down significantly due to disappointing earnings results but I tend to ignore one day stock movements anyway.

Garmin interests me because it competes in a very competitive environment. Many new smart phones like the Google Droid come with a GPS system. Garmin also faces competition from competitors like Tom Tom.

The main four sources of revenue for Garmin are outdoor, cars, aviation, outdoor, and marine. The automobile segment is by far the largest ( approximately 3/4 of company revenue last year).

I do not think the smart phones pose a competition because it is a lot easier to navigate in a car with a Garmin GPS than it is to navigate with a smart phone. Garmin also has the advantage of being an economy of scale. In 2008 Garmin had had 58% of the corporate market share.

This article is not really about Garmin. I found a site GPS Tracking that sells a ton of GPS related devices that are really cool. The devices include a GPS Tracking Key which is a pocket-sized device that locates within 2.5 meters and records movement every second.

This is not a formal post on investing. I just like GPS devices and figured I would share with my readers a cool site that sells unique GPS products. Sometimes I tweet when I find an interesting site or article but I know that no one reads my tweets anyway!