The pandemic has been working miracles for some industries, tech being the most. The work and learn-from-home culture coupled with a surge in videogame sales has been helping the PC market that was fast losing steam ever since smartphones took over.
Last year saw PC sales that include laptops and tablets regain lost territory with shipments increasing globally. According to research company Canalys, the overall PC market, which includes tablets, grew at a record pace in the fourth quarter of last year after witnessing an equally impressive third quarter. High demand for bigger devices drove global shipments of PCs again, while manufacturers are still months away from fulfilling orders.
PC Sales Bounce Back in 2020
According to Canalys, global PC sales saw a 35% year-over-year surge in shipments, reaching 143.7 million units in fourth-quarter 2020. Not just the fourth quarter but 2020 has been overall good for the PC market.
For the full year, PC shipments jumped 17%, reaching 458.2 million units. This was the highest level since 2015.
Lenovo Group Ltd. ( LNVGY Quick Quote LNVGY - Free Report) was the best performer, recording shipments of 28.8 million in the fourth quarter. Overall, the company shipped 87 million units in 2020. Apple, Inc. ( AAPL Quick Quote AAPL - Free Report) shipped 26.4 million Macs and iPads in the last quarter of 2020 and a total of 81.4 million units inthe full year. HP Inc. ( HPQ Quick Quote HPQ - Free Report) and Dell Technologies Inc. (held the third and fourth spot, respectively. DELL Quick Quote DELL - Free Report) PC Sales Poised to Grow
Not too many had expected the PC market to rebound ever since it started declining in 2008 after smartphones gained popularity. However, the pandemic saw millions working and learning from their home, which increased the demand for bigger devices.
And the demand is likely to continue given that the pandemic is far from over. So much so that several companies are lately extending their work-from-home facilities for an indefinite period. This is only going to help the PC market grow further.
Although the vaccination drive has started and new COVID-19 cases have been on the decline over the past few weeks, the at-home culture is here to stay for a longer time than expected as the crisis is far from over. Demand for PCs, laptops, tablets and other peripherals will only grow in such a situation, helping these four stocks to gain.
Apple designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories worldwide. Its signature products include iPhone, Mac and iPad.
The company’s expected earnings growth rate for the current year is 36.3%. The Zacks Consensus Estimate for current-year earnings has improved 10.9% over the past 60 days. Apple sports a Zacks Rank #1 (Strong Buy).You can see
the complete list of today’s Zacks #1 Rank stocks here. Lenovo is dedicated to building PCs and mobile Internet devices. Lenovo's business is built on product innovation, a highlyefficient global supply chain and strong strategic execution.
The company’s expected earnings growth rate for the current year is 90.8%. The Zacks Consensus Estimate for current-year earnings has improved 14.9% over the past 60 days. Lenovo has a Zacks Rank #1.
Sony manufactures and sells several consumer and industrial electronic equipment including laptops and PCs.The company’s product roster comprises audio and video equipment, televisions, displays, semiconductors, electronic components, gaming consoles, computers and computer peripherals and telecommunication equipment.
The company’s expected earnings growth rate for the current year is 92.5%. The Zacks Consensus Estimate for current-year earnings has improved 26.9% over the past 60 days. Sony sports a Zacks Rank #1.
HP is a leading global provider of personal computing and other access devices, imaging and printing products, and related technologies, solutions and services to individual consumers, SMBs and large enterprises, including customers in the government, health and education sectors.
The company’s expected earnings growth rate for the current year is 17.1%. The company’s shares have gained 6.6% in the past 30 days. HP has a Zacks Rank #2 (Buy).
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