- Corsair is a gaming PC components producer, growing substantially its peripheral and accessory segment as well.
- Margin profile should improve as secular trends drive scale and the mix improves.
- While there are risks of issues in logistics and component supply, with peculiar risks for the PC market due to the Crypto boom and few GPUs, the stock appears cheap.
- The higher-end product line, and dynamics linked to the new gamer cohort onboarded by COVID-19, all put Corsair in a relatively resilient position.
- With both relative and absolute undervaluation and pent-up demand for after the GPU shortage resolves, we see Corsair as a value good buy, however, with timing and headline risks.
For further details see:
Is Corsair Gaming Stock A Buy As Video Game Sales Continue To Rise?