Surging Demand for PCs Isn't Boosting HP's Revenue Yet

The COVID-19 crisis is sparking robust demand for PCs as more people work and study from home, but PC makers still can't produce enough units to meet it. The ongoing chip shortage at Intel (NASDAQ: INTC) and the disruption of supply chains in China throttled the global production of PCs, and the abrupt spike in demand exacerbated the shortage.

As a result, global PC shipments actually fell 8% annually in the first quarter, according to Canalys, marking the industry's worst first quarter since 2016. That's particularly bad news for HP (NYSE: HPQ), which had been counting on a turnaround in the PC market to offset its other woes.

Image source: HP.

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Source Fool.com