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CORSAIR CRSR Stock Analysis

Companies / Tech Stocks Jan 02, 2023 - 09:56 PM GMT

By: Nadeem_Walayat

Companies

Price $18.2.P/E 57, EGF +56%, +27%

Corsair investors have paid the price due to bad company management, poor quality control of products where what one buys does not match the brand image, unfortunately when customers are once bitten they then tend to avoid that brand. On the plus side Corsair has been around for decades and has always had the potential to become something much bigger as we await the advent of Corsair Motherboards and perhaps eventually GPU board partners with the likes of Nvidia. In terms of earnings outlook then there are signs of life as EGF's suggest to expect earnings surprises ahead for both the next quarter and 2023, which is also evident on the stock price chart with most recent price action rising from a bone crushing low of $11 to approaching a doubling to $22 as the stock attempts to break above $18 resistance which would mark the END of Corsairs bear market.


A break above $18 would target a trend to resistance at $22,5 to $24 that is achievable during the current bull run. Expectations beyond that will either take a bid for the $1,75bn corporation or time for earnings to grow. So first a breakout of $18 to mark the end of the bear market and then target the range of $22.5 to $24, and then earnings to grow. It took Corsair about 1.5 years to fall from $35 to $11, it may take a similar amount of time to regain $35 from it's recent low. Another plus is that unlike most such small caps Corsair actually does usually post earnings in 9 out of 10 quarters, nor is Corsair a rampant share printer, though it does print. So whilst the stock has had a rough year, it's not a dead or dying stock, just that the past year has demonstrated that it's management is mediocre at best, they need a CEO who has a vision of what the company could become rather than the same old same old cases and power supplies, though they have tried with NVME2 drives and water coolers just that their efforts of the past 2 years have proved lacking in reliability.

The bottom line is that I have little doubt that we will see $30+ again when I am sure many will with a sigh of relief offload a large portion of their holdings.

This article is an excerpt form my recent analysis on the current state of the embryonic stocks bull market How High Could the Impossible Stocks Bull Market Fly that was was first made available to patrons who support my work.So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $4 per month. https://www.patreon.com/Nadeem_Walayat. Lock it in now as $4 per month as this rises to $5 per month in th new year.

Also access to my extensive analysis that concludes in detailed stock market trend forecast into the end of 2023 Stocks Bear Market Max PAIN - Trend Forecast Analysis to Dec 2023 - Part1

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By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2022 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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