The news: Apple’s PC shipments declined 40.5% from Q4 2022 to Q1 2023, reflecting that the mounting malaise in the PC sector has finally caught up with Cupertino, per Bloomberg.
Apple stock was down by as much as 3.12% to $161.65 Monday on the news of decreased shipments.
PC industry sales plummet: Shipments by all PC makers slumped 29% to 56.9 million units in the same time period—falling below the level of early 2019.
Apple losing its shine: Apple’s drop in shipments is the most dramatic among PC manufacturers, especially considering it was the outlier in the segment in Q3 2022.
Our take: We’ve seen the end of the pandemic’s PC boom, when the transition to remote work and learning fueled unparalleled demand and led to notebooks, desktops, and peripherals like cameras being in short supply.
This article originally appeared in Insider Intelligence's Connectivity & Tech Briefing—a daily recap of top stories reshaping the technology industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.
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