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Apple Shipments Plummet in First Quarter

Apple Inc.’s personal computer shipments fell by 40.5% during the first fiscal quarter, thereby following the industry trend of companies struggling to sell excess inventory. The company’s shares fell by 1.7% following the announcement.

During the same period of Apple’s decline, shipments across PC makers across the industry slumped by 29% to 56.9 million units. This is below the levels experienced in 2019. According to IDC, the decline comes as pandemic-induced demand for PCs due to remote work and gaming continues to wane.

Market leaders Lenovo Group Ltd. and Dell Technologies Inc. also followed in Apple’s footsteps, both experiencing declines in PC shipments of more than 30%. HP’s shipments were down 24.2%, while Asustek Computer Inc. experienced a 30.3% fall.

Anurag Rana, a Bloomberg Intelligence analyst, contends that while PC market declines have continued for several consecutive quarters, a rebound in the second half of the year is still possible. According to IDC, the market slowdown gives manufacturers time “to make changes as many factories begin to explore production options outside China.”

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