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4 Stocks to Watch as Remote Working Continues to Drive PC Sales
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The declining PC market, which includes laptops and tablets, got a fresh lease of life last year after the pandemic wreaked havoc and compelled millions across the globe to work and learn from home. Sales have been on the rise, and this year too is proving to be a great one for the overall PC market.
According to a new report from Canalys, PC sales grew again in the third quarter of 2021 despite disruptions in the global supply chain due to the ongoing pandemic and microchip shortage.
PC Sales Continue to Surge
According to a new report from Canalys, global PC sales grew 5% in the third quarter of 2021 from the previous quarter. Total shipments of desktops and notebooks, including workstations, hit 84.1 million units during this period.
Notebooks and mobile workstation shipments touched 67.4 million units, growing 3% on a year-over-year basis in the third quarter. Desktop and desktop workstation shipments jumped 12% to hit 16.6 million units during this period.
Last year, PC sales jumped as demand for personal computers and video collaboration products grew as schools and offices remained completely or partially shut down due to the pandemic. Although the vaccination drive is in full swing and the economy is reopening, the work and learn-from-home culture has become the new normal, which is prompting PC sales.
Also, the videogame market has been helping PC sales. Lenovo Group Ltd. (LNVGY - Free Report) took the top spot for the highest number of shipments. The company shipped 19.77 million units, recording an annual growth of 2.5%. HP Inc. (HPQ - Free Report) held the second position, selling 17.597 units, while Dell Technologies Inc. (DELL - Free Report) and Apple, Inc. (AAPL - Free Report) held the third and fourth positions, respectively.
PC Sales Poised to Grow
For the past few years, PC sales trended down as smartphones were eating into their market share. However,the pandemic came as a blessing in disguise, with demand soaring. The trend has been continuing since then.
The impressive gains in the third quarter came despite supply chain disruptions and problems with the logistics network due to the pandemic. Moreover, the PC industry is faced with a new challenge of semiconductor shortage, which is impacting both manufacturing and sales.
Despite that, experts predict that the hybrid work culture will become the new normal post pandemic. According to an earlier report from Canalys, the installed PCs and tablets market will reach 1.77 billion by 2021 end, up from 1.64 billion in 2019. Tablets too, have seen huge demand during the pandemic, and the market is likely to grow in 2021.
Stocks to Watch
Lenovo is dedicated to building PCs and mobile Internet devices. The company’s business is built on product innovation, a highly-efficient global supply chain and strong strategic execution.
The company’s expected earnings growth rate for the current year is 74.7%. Its shares have gained 1.7% over the past there months. Lenovo has a Zacks Rank #1 (Strong Buy).
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 2.9%. The Zacks Consensus Estimate for current-year earnings improved 1.1% over the past 60 days. Apple has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Sony (SONY - Free Report) 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 next year is 14.1%. The Zacks Consensus Estimate for current-year earnings improved 1% over the past 60 days. Sony has a Zacks Rank #3.
HP Inc. 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 64%. The Zacks Consensus Estimate for current-year earnings improved 0.3% over the past 60 days. HP has a Zacks Rank #3.
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4 Stocks to Watch as Remote Working Continues to Drive PC Sales
The declining PC market, which includes laptops and tablets, got a fresh lease of life last year after the pandemic wreaked havoc and compelled millions across the globe to work and learn from home. Sales have been on the rise, and this year too is proving to be a great one for the overall PC market.
According to a new report from Canalys, PC sales grew again in the third quarter of 2021 despite disruptions in the global supply chain due to the ongoing pandemic and microchip shortage.
PC Sales Continue to Surge
According to a new report from Canalys, global PC sales grew 5% in the third quarter of 2021 from the previous quarter. Total shipments of desktops and notebooks, including workstations, hit 84.1 million units during this period.
Notebooks and mobile workstation shipments touched 67.4 million units, growing 3% on a year-over-year basis in the third quarter. Desktop and desktop workstation shipments jumped 12% to hit 16.6 million units during this period.
Last year, PC sales jumped as demand for personal computers and video collaboration products grew as schools and offices remained completely or partially shut down due to the pandemic. Although the vaccination drive is in full swing and the economy is reopening, the work and learn-from-home culture has become the new normal, which is prompting PC sales.
Also, the videogame market has been helping PC sales. Lenovo Group Ltd. (LNVGY - Free Report) took the top spot for the highest number of shipments. The company shipped 19.77 million units, recording an annual growth of 2.5%. HP Inc. (HPQ - Free Report) held the second position, selling 17.597 units, while Dell Technologies Inc. (DELL - Free Report) and Apple, Inc. (AAPL - Free Report) held the third and fourth positions, respectively.
PC Sales Poised to Grow
For the past few years, PC sales trended down as smartphones were eating into their market share. However,the pandemic came as a blessing in disguise, with demand soaring. The trend has been continuing since then.
The impressive gains in the third quarter came despite supply chain disruptions and problems with the logistics network due to the pandemic. Moreover, the PC industry is faced with a new challenge of semiconductor shortage, which is impacting both manufacturing and sales.
Despite that, experts predict that the hybrid work culture will become the new normal post pandemic. According to an earlier report from Canalys, the installed PCs and tablets market will reach 1.77 billion by 2021 end, up from 1.64 billion in 2019. Tablets too, have seen huge demand during the pandemic, and the market is likely to grow in 2021.
Stocks to Watch
Lenovo is dedicated to building PCs and mobile Internet devices. The company’s business is built on product innovation, a highly-efficient global supply chain and strong strategic execution.
The company’s expected earnings growth rate for the current year is 74.7%. Its shares have gained 1.7% over the past there months. Lenovo has a Zacks Rank #1 (Strong Buy).
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 2.9%. The Zacks Consensus Estimate for current-year earnings improved 1.1% over the past 60 days. Apple has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Sony (SONY - Free Report) 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 next year is 14.1%. The Zacks Consensus Estimate for current-year earnings improved 1% over the past 60 days. Sony has a Zacks Rank #3.
HP Inc. 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 64%. The Zacks Consensus Estimate for current-year earnings improved 0.3% over the past 60 days. HP has a Zacks Rank #3.