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The Nasdaq 100 Technology Sector Index has gained more than 20% so far in 2021 despite a volatile start to the year, but not all tech stocks have enjoyed similar good fortunes on the stock market. Corsair Gaming (NASDAQ:CRSR) is one such stock that has struggled in 2021 despite turning in impressive financial growth.

However, Corsair's weak stock market performance is an opportunity for investors looking to buy a high-growth company at an attractive valuation. It operates in a fast-growing market that has years of terrific growth ahead, and Corsair is well placed to take advantage of the opportunities at its disposal.

Let's look at the reasons buying Corsair Gaming is a no-brainer.

Investors shouldn't panic over Corsair Gaming's short-term headwinds

Corsair Gaming's plunge seems a tad surprising, as the company has done well to maintain its growth in a post-pandemic scenario that supercharged its revenue, margins, and earnings last year. The gaming peripherals and hardware company's revenue increased 24% year over year in the second quarter to $473 million.

However, investors pressed the panic button after Corsair's earnings fell short of expectations.

The company reported adjusted net income of $0.36 per share, a cent lower than in the prior-year period. Analysts were looking for adjusted earnings of $0.39 per share on revenue of $467 million. Its gross margin was flat, and operating expenses jumped 39% year over year to $95.6 million, outpacing the company's top-line growth.

Corsair blamed "significant increases in logistic costs, particularly ocean freight." CEO Andy Paul pointed out on the August earnings conference call that "the cost of containers is probably three to four times now what it was two years ago, and we certainly expect that's gonna be somewhat of a temporary situation."

The stock fell 6.4% on the day of the second-quarter report. It seems investors have missed the forest for the trees on account of this short-term headwind. The demand for high-end gaming equipment has taken off over the past year and a half, as people turned to video games to keep themselves entertained at home. Corsair management points out that the average annual demand growth for PC gaming peripherals was at 24% in the U.S. and Western Europe before the pandemic. That has now gone up to 80%, driven by the influx of new gamers.

The good news for Corsair is that the number of gamers globally could jump to 3.07 billion by 2023, compared with an estimated 2.69 billion last year, according to a third-party estimate. In addition, Corsair expects to take advantage of an upgrade cycle in PC gaming equipment, as the new gamers who started playing last year are expected to buy better equipment to enhance their gaming experience.

As a result, gaming PC shipments are expected to increase 30% over the next five years to 73 million units, according to an industry estimate. Corsair is well placed to take advantage of this growth, being the leader in several product categories in the PC gaming hardware space.

According to the NPD Group and management's estimates, Corsair owns the first position in the U.S. in memory, power supply, system cases, and cooling solutions -- all of which are key components in a gaming PC. Corsair also occupies the second position in the keyboards, streaming peripherals, and performance controller markets, and the third and the fourth position in the mouse and headset verticals, respectively.

The stock is a terrific bargain right now

Corsair has guided for $2 billion in revenue this year at the midpoint of its guidance range, which translates into a 17.6% increase over the prior year. What's more, the company has kept its forecast for adjusted operating income unchanged despite facing higher costs last quarter. Corsair anticipates $245 million in adjusted operating income this year at the midpoint of its guidance range, up 19% from last year's $205 million.

Corsair has also maintained its forecast for adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $245 million to $265 million, which would be almost a 20% increase over 2020 levels. The long-term opportunity and Corsair's strong market positioning indicate that it could sustain its impressive growth in the long run.

With Corsair Gaming stock trading at less than 18 times earnings right now, compared with the S&P 500's average multiple of 31.7, buying this tech stock is a no-brainer, as it seems built for long-term growth.