Chart Of The Week   April 12 2023

Poor Fundamentals Will Weigh On Tech Hardware & Equipment

According to a recent International Data Corporation (IDC) report, global shipments of traditional PCs dropped by 29% y/y in the first quarter of 2023. The decline was attributed to weak demand, excess inventories, and deteriorating economic conditions. In particular, Apple’s shipments bore the brunt of the weakness, dropping by 40.5% y/y.