The PC market is finally starting to stabilize after a brutal post-pandemic correction. Global PC shipments were down 13.4% year over year in the second quarter, according to IDC, a vast improvement over the 29% decline suffered in the first quarter.
Weak demand for PCs after a pandemic-era buying spree was compounded over the past year by excess inventories of systems and components. While demand remains subdued, the inventory situation is now largely resolved, at least according to Intel (NASDAQ: INTC).
Advanced Micro Devices (NASDAQ: AMD) saw sales of its own PC CPUs fall off a cliff in the first quarter. Sales were down a whopping 65% year over year in the client segment, a far worse result than Intel. Client revenue dropped 53% year over year in the second quarter, still a terrible result when Intel reported a mere 12% decline. But there were a few nuggets of good news.
Source Fool.com