This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

PC Meltdown Averted, Sort of: Gartner

NEW YORK, ( TheStreet) -- After forecasting a dramatic slump in PC sales early this year, Gartner has changed its tune, now calling for a modest gain in shipments.

Thanks to strong sales of netbooks and laptops in the third quarter, PC shipments won't suffer the sharpest decline in history of 11.9%. Instead, Gartner now says worldwide PC volume will grow 2.8% this year.

"Shipments in the third quarter of 2009 were much stronger than we expected, and that alone virtually guaranteed we would see positive growth this year," Gartner PC research chief George Shiffler said in a press release Monday.

But while the surprisingly strong volume shows spending has improved somewhat, the overall increase in cheaper computers sold will cut industry revenue by 10.7% this year, Gartner predicts.

The suddenly upbeat forecast gave shares of No. 1 PC maker Hewlett-Packard (HPQ - Get Report) and its lagging peer Dell (DELL - Get Report) a slight boost early Monday. H-P was up 2% to $51, very close to its 52-week high. And Dell, which fell 10% Friday after a disappointing third quarter performance, rose 1% in premarket trading Monday.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
DELL $0.00 0.00%
HPQ $33.26 0.00%
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs