Logitech's Sales Decline Leads to Stock Plunge

Logitech's stock plunged despite beating Q3 expectations and raising guidance due to concerns over shipping disruptions in the Red Sea, causing inventory delays and increased shipping costs. The company expects a 6-7% decline in sales for fiscal 2024, with adjusted operating income projected to increase relative to last year's muted results. With the stock trading at a two-year high before the earnings report, it may struggle until better growth is demonstrated.