Apple Inc. vs. Garmin Ltd.: A Decade of Gross Profit

In the ever-evolving landscape of technology and consumer electronics, Apple Inc. and Garmin Ltd. have carved out distinct niches. Over the past decade, Apple has consistently outperformed Garmin in terms of gross profit. From 2014 to 2023, Apple's gross profit surged by approximately 156%, peaking in 2024 with a remarkable 180 billion dollars. In contrast, Garmin's growth was more modest, with a 87% increase, reaching just over 3 billion dollars in 2023.

A Closer Look at the Numbers

Apple's dominance is evident, with its gross profit in 2023 being nearly 57 times that of Garmin's. This disparity highlights Apple's expansive market reach and innovative product line. Garmin, while smaller, has shown resilience and steady growth, particularly in the fitness and navigation sectors. The data for 2024 is incomplete for Garmin, suggesting potential challenges or strategic shifts.

Conclusion

This comparison underscores the dynamic nature of the tech industry, where giants like Apple continue to expand, while specialized companies like Garmin find their own paths to success.