4 months agoFrom “PC Shipments Show Continued Strength in Q1 2021 Despite Component Shortages and Logistics Issues, According to IDC” posted Monday:
Cue the spreadsheet (click to enlarge):
My take: And that’s without counting iPads.
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on Barron’s: Apple’s 12% rally has not erased concerns about the stock 'OK, I won’t consider the future or even the not-so distant past, just this quarter’s performance, when they reveal the…' on Apple at $148.56: Look who’s underwater now 'I’m befuddled when it comes est. targets by Tim Long at Barclays & Christopher Caso at Raymond James on April…'
on Barron’s: Apple’s 12% rally has not erased concerns about the stock 'Concerns? I’m not seeing it in the options market. Normally a contract sells at the mid-point between Bid and Ask.…'
on Barron’s: Apple’s 12% rally has not erased concerns about the stock 'Investors were also concerned about inflation until recently. OPEC raised output, lowering a key global driver of inflation, oil prices.…'
on Barron’s: Apple’s 12% rally has not erased concerns about the stock 'The one concern expressed about AAPL the last two quarters that I find understandable is the absence of guidance. If…'
on Apple at $148.56: Look who’s underwater now 'That many analysts above the Friday’s closing price speaks volumes with clarity that this is one stock to own. And…' on Barron’s: Apple’s 12% rally has not erased concerns about the stock 'Much of the trepidation for WS surrounding the stock could be assuage if Apple comes forth providing forward guidance. I…' on Apple at $148.56: Look who’s underwater now 'Is it unusual to have so many above the line going into earnings?' on Apple at $148.56: Look who’s underwater now 'The usual suspects are at the bottom. Did we honestly believe it would be different this time around?'
“…does anyone here really believe in the accuracy of IDC data?”
Nope.
Apple grew 2X the market as whole.
No doubt Apple’s revenue share was higher, maybe 10% or more.
The big take away for me from this data is the statement above that repudiates the long held and espouse conviction by many folk who were convinced that the PC was dying. Far from its demise, I see continue growth in the PC ahead for the Mac in the coming months and years.
Lovely plumage, this Big Blue. …
We can expect a lot more from this Apple/TSMC hook-up in areas such as new memory technologies, and more.
HP’s recently reported quarter’s end Jan 31, 2021. Assuming similar revenue (IMO overestimating) for all of CY2021 Q1 here’s the numbers:
HP Personal Systems:
2020 CYQ1 11.722M units $ 9.892B rev ASP $843
2021 CYQ1 19.237M units $10.603B rev ASP $551 (more lower priced systems sold)
Apple Mac
2020 FYQ2 3.164M units $5.351B rev ASP $1691
2021 FYQ1 7.349M units $8.675B rev ASP $1180 (new Mac Mini, lower level M1)
2021 FYQ2 6.692M units (only ~9% drop from FYQ1). If we assume a slight 6% rise in ASP to $1250, estimated Mac revenue would be $8.365B.
HP at #2 earns $9.89B rev. and rises 7.1% to $10.6B YOY
Apple at #5 last year earns $5.35B rev and rises ~56% by revenue to $8.36B
HP/Apple in 2020 CYQ1 was 84% higher, for 2021 Q1, now only 26.7% higher.
Who is performing better?
Meanwhile Apple already has the M1 5nm Mac Mini/MacBook in hand and likely to intro the M1X enhanced Mac Pro/MacBook Pro series soon, already with overwhelming performance and power efficiency compared to any other chips out there. By year’s end, prototypes based on the TSMC 3nm process will be produced.
And as PED mentioned, we ain’t even talking about the iPad tablet market where Apple holds a commanding position on units, pricing power, AND revenue.
Again, who is (going to) perform better?
https://twitter.com/asymco/status/1381671122861760519