Apple stock dipped Monday on an IDC estimate that its Mac shipments dropped some 40% in the first quarter.
Reinhardt Krause for Investor’s Business Daily:
Apple’s personal computer shipments declined by 40.5% to 4.1 million in the first quarter, according to market research firm IDC. Overall, global shipments fell 29% to 56.9 million, IDC said.
Lenovo and Dell also posted drops of more than 30%.
Apple stock fell 1.6% to close at 162.03 on the stock market today… Meanwhile, Apple stock had been up 27% in 2023 as of Thursday’s market close.
MacDailyNews Take: This is not in any way a surprise to anyone familiar with the company.
Apple CFO Luca Maestri during Apple’s Q123 conference call on February 2, 2023:
For Mac and iPad, we expect revenue for both product categories to decline double digits year over year because of challenging compares and macroeconomic headwinds.
We have low share and we have a competitive advantage with Apple silicon. And so, strategically, I think we’re well-positioned in the market, albeit I think it will be a little rough in the short term. – Apple CEO Tim Cook, February 2, 2023
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