After the close, Fitbit (FIT) reported Q4 results. The company already provided preliminary results so pretty much ignore those numbers and focus on the guidance. The stock is likely to stabilize if not bounce with the company maintaining 2017 guidance of $1.5 to $1.7 billion. The Q1 guidance of $280 million is below analyst estimates at this point, but it as well reflects analysts that haven't updated guidance following the preliminary guide down. Typical of a company that has reset expectations, it takes awhile for the analyst numbers to get down to the new reality. The more encouraging news is that Garmin (GRMN) produced a solid 20% gain in fitness related revenues. At $274 million, sales at Garmin are still half of the revenue levels at Fitbit. The real interesting part is that Garmin trades at over 3x sales and Fitbit is now under 1x the sales forecast for 2017. Investors will clearly have trouble placing too much faith in what Fitbit says at this point, but throwing away the stock doesn't appear wise. Disclosure: No position