Apple, one of roughly five largcaps responsible for holding up positive YTD SPY gains, has 40% Plunge in PC Shipments.

Apple Inc.’s personal computer shipments declined by 40.5% in the first quarter, marking a tough start to the year for PC makers still grappling with a glut of unsold inventory.

Shipments by all PC makers combined slumped 29% to 56.9 million units — and fell below the levels of early 2019 — as the demand surge driven by pandemic-era remote work evaporated, according to IDC’s latest report. Among the market leaders, Lenovo Group Ltd. and Dell Technologies Inc. registered drops of more than 30%, while HP Inc. was down 24.2%. No major brand was spared from the slowdown, with Asustek Computer Inc. rounding out the top 5 with a 30.3% fall.

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www.bloomberg.com/news/articles/2023-04-10/apple-s-40-plunge-leads-pc-shipments-down-as-tech-demand-sags?leadSource=reddit_wall

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