LOGI - Up 65% in a Year This Pandemic Winner Could Get a Big Boost Thanks to Artificial Intelligence (AI)
2024-07-03 03:30:00 ET
Computer peripherals manufacturer Logitech International (NASDAQ: LOGI) delivered stellar returns during the COVID-19 pandemic that gripped the globe in 2020 and 2021.
The stock clocked gains of more than 150% from the beginning of January 2020 to mid-2021 as its sales and profits ballooned thanks to the robust demand for computer accessories from people who were working from home or using its products for video gaming. However, a collapse in sales of personal computers (PCs) in 2022 and 2023 has weighed big-time on Logitech stock, which explains why the stock is down 21% in the past three years while the Nasdaq-100 Technology Sector index has clocked 24% gains over the same period.
Logitech stock has regained some momentum in the past year with an impressive 65% price jump. Let's see why that has been the case and whether Logitech's stock market rally is sustainable.
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Up 65% in a Year, This Pandemic Winner Could Get a Big Boost Thanks to Artificial Intelligence (AI)