Strong demand for video games may indicate higher Christmas sales for Logitech.
The French term logiciel, which means "software," is where Logitech (LOGI) gets its name. This company creates and sells personal accessories for smart homes, video communication and collaboration, music, and PC navigation. Keyboards, computer mouses, tablet attachments, headphones and headsets, cameras, Bluetooth speakers, universal remotes, and other items fall under this category. Logitech (LOGI) is one of the top producers of input and interface devices for personal computers (PCs) and other digital goods, the firm has operations across Europe, Asia, Oceania, and the Americas. It is included in the prestigious Swiss Market Index.
Despite the fact that Logitech is currently down 31.66% YTD, the stock has been undervalued, which could make it a good value at the moment. Before the pandemic, the company's sales were increasing. The issue is that Logitech is still feeling the effects of the spike in demand for computer accessories in 2020. As a result, it can take some time before demand patterns stabilize.
To add to this, the fact that the stock's price-to-earnings ratio dropped to less than 15 times trailing profits per share, significantly below Logitech's historical trading range, is advantageous for investors. This Christmas season, strong video game sales are predicted, which may portend a comeback for Logitech. Since Logitech is a leading producer of gaming keyboards and accessories, the market is certainly anticipating strong demand for the newest games to boost the company's revenues in the upcoming quarter.
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For our members who received exclusive market insights based on artificial intelligence, we openly announced LOGI as a buy on Monday, October 31st, 2022, which you can see reflected in the image below.
This stock pick has been offered in numerous predictions continually as well as in other earlier AI forecasts, including predictions with more pertinently briefer time horizons like weekly and biweekly forecasts. When you see your daily predictions as a subscriber, you can spot greater possibilities by keeping an eye out for stock predictions that keep appearing repeatedly in the AI forecasts. Another clue is when the stock pick appears over several anticipated time frames, particularly across several forecasts released each morning EST.
Click here to see the original forecast published on October 31st, 2022.
The Signal Confidence (SC) for the 1-month LOGI stock prediction was 74%, which was fairly strong for this short-term time frame. These incredibly complex mathematical functions that the Signal Confidence (SC) utilizes for statistical programming and modeling can compare their current coefficients and algorithms to newly added data and then adapt to improve the models' accuracy through a process of validation and reflection when used in conjunction with machine learning. Based on the historical accuracy of each prior financial asset prediction as well as current market variables important to the stock price, the AI stock prediction system calculates the Signal Confidence (SC), which is expressed as a percentage out of 100%.
Stock Ticker | Open: Oct 31, 2022 | Close: Nov 30, 2022 | ROI% |
Logitech International SA (LOGI) | $50.34 | $60.54 | 20.26% |
Subscribers who purchased LOGI shares on October 31st, 2022 based on our AI Forecast for the 1-month time period would have made a short-term profit of 20.26%, or $10.20 per share, on this single move. As previously said, this stock was repeatedly advised at various time periods. Always exercise discretion when studying the market. Prior to putting any financial plans into action, you should always conduct your own due diligence and seek assistance from a certified financial advisor.
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Sources: 1. Logitech Investor Relations, "Quarterly Results" (2022)
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