PC Gaming Surge Pulls Along Accessory Makers
The growth in demand for PC gaming is having a major kick on effect with sales of gaming accessories surging for brands such as Turtle Beach and Logitech.
Turtle Beach the maker of gaming headsets saw their stock surge overnight after Logitech posted a record Q3 yesterday.
Research shows that gaming accessories rose 29 per cent last month compared from December 2017, with the full year growth reaching 33 per cent to $4.5 billion in the USA alone.
Analysts claim that any prolonged strength in battle-royale game formats could bring upside for Turtle Beach’s full-year sales.
Separately, Logitech was raised to neutral from overweight at JPMorgan on higher-margin growth opportunity in gaming and video collaboration and its “excellent balance sheet” which has cash available for future acquisitions.