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Four Highlights from the Corsair Earnings Call
$CRSR reported earnings this morning. Here's four quotes from the company's earnings call that I found interesting:
- Demand for gaming peripherals is still high: "Demand has remained strong for gaming components and gaming peripherals. In fact, recent market data shows consumer demand for peripherals at close to the elevated 2020 work-from-home levels. We also recently conducted a survey of the PC gaming hardware market with DFC Intelligence. And we found that the refresh cycle for building and upgrading PCs is shorter than previously thought, closer to 1 to 2 years rather than 2 to 3 years." Bullish sign for the company, $LOGI, and gaming stocks in general.
- Pent-up demand for graphics cards: "The semiconductor shortage has caused graphics cards to be in very short supply compared to demand and has driven market prices of certain graphics cards to 150% to 200% of normal MSRP. This has caused gaming enthusiasts to hold back on building new high-end gaming PCs that use our components. By our estimate, approximately 10% of our natural demand for our components and memory products in our Gaming Components segment was held back in 2021. We believe this should cause a bubble of pent-up demand, which will be released as GPA use return to normal MSRPs in 2022." $NVDA $TSM
- DTC focus: "During the third quarter, direct-to-consumer was 13.1% of sales, up from 10% in Q3 2020, and we expect this trend to continue. We truly believe direct-to-consumer sales represents a significant avenue to drive growth by facilitating increased engagement with our consumers."
- Supply chain disruptions: "Our third quarter results were challenged by a very difficult logistics and supply chain environment. Logistics is slower than usual, with many shipping lanes taking over double the normal shipping times and at a much higher cost. At times, we're not able to purchase all of certain semiconductors that we need."
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