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Eric Woodring

Managing Director and Head of U.S. Technology Hardware Equity Research at Morgan Stanley

Erik Woodring is a Managing Director and Head of U.S. Technology Hardware Equity Research at Morgan Stanley, specializing in computer and technology sector analysis with coverage of 18 to 26 publicly traded companies. His portfolio includes major technology firms such as Apple, IBM, Logitech International, Smartrent, and Seagate Technology, among others focused on semiconductors, storage devices, and integrated systems. Across multiple analyst ranking platforms, Woodring has demonstrated strong performance metrics including a 57-58.99% success rate on TipRanks with an average return of 2.90% per rating, a 67.61% success rate on StockAnalysis with 14.71% average returns, and a 74.49% price target achievement ratio on AnaChart with 16.92% average upside potential. He joined Morgan Stanley as an Equity Analyst in June 2015, previously holding roles as a Senior Analyst at Talson Capital Management LP and as an Equity Research Analyst at Simms Capital Management Inc. from 2008 to 2010, with an undergraduate degree from Middlebury College (2008) and an MBA from the Leonard N. Stern School of Business (2015).

Eric Woodring's questions to GARMIN (GRMN) leadership

Question · Q3 2025

Eric Woodring asked for an assessment of where the Fitness and Outdoor segments stand in their respective product and pricing cycles, given multiple years of strong performance. He also questioned why capital expenditure guidance has consistently exceeded actual spend over the past three years.

Answer

President and CEO Cliff Pemble characterized the Fitness and Outdoor segments as an ongoing opportunity rather than a cyclical pattern, highlighting Garmin's position as a growing market share player in wearables, driven by innovation. CFO and Treasurer Doug Boessen clarified that CapEx estimates are made early in the year and sometimes get pushed out, emphasizing that the company has ample funds and remains committed to infrastructure investments for future growth.

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