ceo and president of logitech international. welcome back to mad money. >> thank you so much for having me, jim. >> we kind of set the scene as it may be is as bad as it gets and you have to start buying the stock. i also think there are some other things that work. when you cut numbers to numbers, i do search for a catalyst why this is the other than the fact it did not go down on a disappointing. >> the other day, you and i have been talking for a while, focus on. as you know, the last couple of years, we have grown a tremendous amount during the pandemic. right now, i did not do anything. our business is down a bit i do not think that is. people are just not at home. i think people will come back to the and they are really getting back to the work. i think we will see ourselves in a matter of time. we have great long-term fundamentals, as you know. big trends including video, hybrid, continued rise of gaming and experience becoming really one of the biggest jobs in the economy. >> you did signal that gaming revenue has come d

plunging taking down names like amazon and etsy in the process and more evidence of a consumer slowdown logitech reporting a 38% fall in profit cutting outlook on slowing demand for webcams and gaming equipment, though keyboards and mice, things like that actually sell more and shopify shares also under pressure cutting 10% of its workforce, its ceo saying he expected surging e-commerce sales to continue, quote, it's now clear that bet didn't pay off. shopify shares done 80% since the high in november and reports earnings tomorrow. dee, it seems like we're seeing signs of a scenario i've been concerned about for awhile, consumers racking up debt, spending down their savings to have a good time during the summer because we deserve it but then tightening the belt when the bill comes due, right? the bank said the consumer is still spending walmart backed that up same-store sales were up that's because everything is more expensive, not because people are actually buying more so now we're trying to figure out, it seems how profits shake out in all this and where it leaves e-commerce and tech. >> why

logitech, which we liked very much, but you have to have them here. some companies seem to have insatiable consumer exceeded the tepid enterprise market, which is usually much, much larger. in other words, the consumer market looks like it was bigger than the enterprise market, so everyone filled in info from them. then out of nowhere it reversed and it was up. china switching to a vaccine based system rather than a lockdown base system. now there is a glut of unbelievable proportions for consumers and a true dirt project for the enterprise. the traders were cut with her pants down. making things even worse, of course, the fed had to take into account the headlong boom to not crash and to keep it out. in that environment in retrospect seems pretty obvious that tech stocks would be wiped out, which is why it went so negative on most of the effort. what wasn't obvious now was that the analysts and commentators would only realize what was happening what i just told you about just now, not back in november! but now, near the bottom of the cycle. they have

enterprise supply then we've also got pfizer, the payment flow through them that's globaler and then logitech, consumer hardware, but also a pc slowdown, how much is that affecting the things that connect to pcs many of which they make. christina was mentioning nxp you talk about the auto area and industrial iot which has been strong but is demand cooling off? those things read through to the qualcomms, intels, apples and more. >> that's why we kau it christina in july. we're going to learn so much over the next few days although i will add at an index level bofa today says the busiest week of earnings, meaning this comparable week, generally not that strong for the dow, down 8 of the last 10, nasdaq down 7 of the last 10, but that doesn't mean there's going to be a lot of things to find out. >> put another way, carl, nasdaq up 7.3% so far in july, guys, i was a little surprised last week to see netflix and tesla hold up amid disappointing earnings, better than expected, those stocks have sold off a lot netflix was up 17% last week, tesla 13%, jon perhaps wall treat will take disappointing ea