The Turtle Beach Corporation, a leader in game accessory manufacturing, is poised to lead the gaming industry in profits in 2022.
As 2022 approaches, we’re once again at the time of year where the stock market takes a beating as investors dump the stocks they don’t want to carry into next year. As always, everyone on CNBC, Bloomberg, and Fox Business have begun losing their everlasting minds as the major stock indexes plummet.
And, true to form, the DOW, Nasdaq, and S&P 500 all are limping into the New Year like Long John Silver on his wooden peg.
Tech stocks in particular are walking the plank as 2021 comes to an end.
The tech-heavy S&P 500 has fallen 2% this week, and shares of four big tech stocks—Microsoft, Nvidia, Apple, and Alphabet—are all down 4.2% as of this writing.
This is especially noteworthy because these four stocks, plus Tesla, account for 50% of the S&P 500 gains for the year.
So as these five stocks go, so goes the S&P.
However, just because the big boys are struggling for the minute doesn’t mean there aren’t other tech stocks to buy.
The Money Moves gamer readership is going to love the stock we have to recommend today.
For all those gamers who use headsets for communicating while playing video games on Xbox, PlayStation, and PC, you are likely familiar with Turtle Beach Corp. (HEAR)
Turtle Beach makes headsets that the gaming community uses to communicate with their friends from all over the globe, as well as keyboards, mice, and other gaming accessories.
And the gaming market is a huge industry.
Gaming marketer insider Newzoo said that the market was worth a whopping $159.3 billion in 2020 and is expected to grow to $200 billion by 2023.
According to Statista, video game sales are expected to rise by 32% by 2025.
And the more games are sold, the more headsets will be needed, making a stock like Turtle Beach an obvious beneficiary of this growing gamer market.
Last year, Turtle Beach did $360 million in revenue with a market cap of 409.173 million and an EPS of 1.91.
And our Green Zone rating for Turtle Beach is “strong bullish,” which means we expect the stock to outperform the market by 3X over the next 12 months due to its high growth and high quality.
So, there you go, gamers. Your hours of playing video games are finally paying off for you and non-gamer investors alike.
Turtle Beach is worth a look for your investment portfolio in the new year.
And until then…happy gaming!