At about the 2:20 mark in the video below, Pimco’s Neel Kashkari talks about how he likes the stock Logitech on CNBC. Kashkari says as consumers move away from PCs, they’ll need many of the “peripherals” that Logitech sells.
However, the stock is getting smashed, down over 18% as the world’s biggest computer mice maker lowered their revenue forecast. Yes, you read that right, Logitech makes computer mice which people are using less and less as they move to tablet computers like the iPad. But Logitech is trying to keep up with the new tablets and Apple like iPads, introducing a solar powered wireless keyboard for Apple’s iPad, for example. Although this doesn’t seem to be helping the stock much so far, as it trades for roughly $7.15 a share today.
As tablet computers that don’t need mice erode Logitech’s traditional business in personal computers, the company is working to revive its range. In May, Logitech introduced a wireless solar keyboard for Apple Inc. (AAPL)’s Mac, iPad and iPhone and this month it announced products for Microsoft Corp.’s Windows 8, including touch mice. (BusinessWeek)
I’d like to hear from Neel Kashkari today and see what he’s doing with his Logitech shares. It’d be nice if he appeared on CNBC to talk about the stock’s collapse.