Booming demand for personal computers has made HP and Dell two of the strongest large-cap tech stocks so far this year. PC sales account for a little over half of Dell’s total revenue and a little over 60% of HP’s. PCs have been a mature business for years; the sector saw unit sales shrink globally every year from 2012-2018, according to both Gartner and IDC, which track PC sales. Unit sales of PC and Chromebooks jumped 13% to 302.6 million in 2020, and surged by 55% year-over-year in the first quarter, according to IDC’s data. “We worry that PC strength in 2020 and 2021 represents a pull forward / one time surge in PC demand," wrote Toni Sacconaghi of Bernstein.

Source: Mint May 29, 2021 16:18 UTC