Shares of several PC-related stocks fell Thursday morning, a day after scathing reports from IDC and Gartner stating that PC sales suffered their worst quarterly decline ever in the first quarter.
Shares of Hewlett-Packard, which IDC and Gartner pointed to as the big loser in PC market share in the first quarter, were off 5 percent in morning trading Thursday. Meanwhile, shares of AMD, Microsoft and Intel were down 4 percent, 4 percent and 3 percent, respectively, in Thursday trading. By comparison, the Dow Jones was down 0.1 percent and Nasdaq was down 0.2 percent Thursday morning.
According to IDC, PC shipments fell 13.9 percent in the first quarter compared to the first quarter of 2012, far worse than the 7.7 percent decline that IDC had forecast last month in its Worldwide Quarterly PC Tracker.
HP shipped 12 million PCs, down 23.7 percent from the year-ago quarter. Dell shipments fell 10.9 percent to 9 million, Acer Group shipments declined 31.3 percent to 6.2 million, and Asus shipments fell 19.2 percent to 4.4 million. All other vendors combined for a 10 percent decline year-over-year.
Lenovo PC shipments were flat in the first quarter, according to IDC, which singled out the company as being a "notable exception as it continues to execute on a solid 'attack' strategy."
But even Lenovo's shares were down 7 percent Thursday morning to $18.25.
Meanwhile, Gartner reported an 11.2 percent decline in worldwide PC shipments, falling below 80 million units shipped for the first time since the second quarter of 2009.
Gartner said HP and Lenovo "were in a virtual tie" for PC shipments with 14.8 percent and 14.7 percent share, respectively. But HP's number of PCs shipped in the first quarter fell 23.6 percent, according to Gartner, while Lenovo's shipments increased 0.1 percent.
PUBLISHED APRIL 11, 2013