Microsoft released a dismal fourth-quarter earnings report today, which missed estimates partly due to poor PC sales.
Intel Corp., the world’s largest maker of chips for PCs, put a brave face on the decline of the global PC sales earlier this year, saying it expected its own sales to grow. On Wednesday, it backtracked, saying sales will be flat.
If fewer people are interested in buying a new personal computer, then fewer investors want to own stakes in companies whose fortunes are tied to the sales of laptop and desktop machines.
It’s been a rough year so far for the PC. Research firm IDC reports that PC sales were down 14 percent in the first three months of the year.
Advanced Micro Devices has cut its third-quarter outlook. The world’s second-biggest maker of personal computer processors announced Thursday it expects revenue to fall 1 percent to 4 percent from the second quarter’s $1.65 billion.