One of the more expensive cameras on my list, the X100F is the best model yet of the popular series of fixed-lens cameras with APS-C-size sensors. It's got a wide-angle lens and a relatively compact design, and if you need a gift for a grad who likes physical manual controls -- and who you're willing to spend the bucks on -- this is a great choice.
The Sony RX100 V makes my list now that its price has been reduced. If you want to gift the most feature-packed compact available today for someone who wants to carry a camera all the time, this is the one.
One of my perennial general-purpose go-to recommendations, the ZS100 delivers the upgrade in image quality afforded by a one-inch sensor with enough of a zoom lens for a lot of framing flexibility, and it's sufficiently fast to capture life in action. Plus, it supports 4K video for the sharpest capture possible. And it's cheaper than the RX100 V. There's a newer model with a longer zoom lens, the ZS200, but it's more expensive and the lens has a more limited aperture range.
Any newbie downsizing from a dSLR or upgrading from a compact will find this a great interchangeable-lens model. With the image quality and performance of a dSLR, the A6000 is a few generations old, but that just means it's inexpensive enough to make an affordable yet terrific gift. If you can spend more, the latest successor A6500 is better, but it's also a budget-buster with a basic kit lens.
The FZ1000 is a good fit for people who want the look and feel of a dSLR, better image quality than a point-and-shoot, and a long zoom lens they don't need to worry about changing whether they're shooting landscapes, portraits, birds or sports.
A small dSLR alternative, one of the best things about the Micro Four Thirds interchangeable-lens cameras is that the lenses are tiny -- you can throw five in your bag and barely feel them. The E-M10 Mark II is fast, with solid photo quality and a useful feature set, plus Olympus' policy of adding features via firmware upgrades makes this one a long-term choice. The company recently rolled out the Mark III, but most of the changes were in the interface, so performance and photo quality should be identical if you want something newer.
For the outdoorsy type who wants to do drone photography but needs it to fit in a backpack, the foldable Mavic Pro is the most travel-friendly of the more advanced bunch. It's not a cheap gift but it will surely be appreciated.
You can find this excellent general-purpose dSLR reasonably priced for the body, which makes it a nice gift for anyone who's done with their cheap dSLR and looking for faster focus and continuous shooting.
It may look like the Hero 5, but GoPro's Hero 6 Black update to the most popular action camera has a new processor that enables better image quality and stabilization, plus another level of slow-motion, which make it worth gifting the newest model.