Declining PC Sales are Hurting More Stocks than Hewlett Packard
Shares of Intel (NASDAQ:INTC) have been under pressure lately on concern that sales of PCs are in a long-term decline. The shares recently traded at $20.10, down $0.14, or 0.69%, on the day. The shares have declined by 4.3% year-to-date, and have declined by 29% over the past decade. The shares are trading almost 75% below their all time high of $70 per share.
Other companies whose shares have declined on concern of weak PC sales are Micron Technology (NASDAQ:MU) and OmniVision Technologies (NASDAQ:OVTI). MU recently traded at $5.87, down $0.08, or 1.26%, on the day. Its shares have declined 27% year-to-date and 44% since its IPO. Shares of OVTI recently traded at $18.25, down $0.36, or 1.93%, on the day. The shares have declined 38% year-to-date and have increased 1,112% over the past decade.
In light of Hewlett Packard’s (NYSE:HPQ) decision to exit the PC business, and a continued move into mobile computing by millions of consumers and businesses, it is hard to see how companies devoted primarily to the PC market will flourish in the years ahead.