The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.NEW YORK ( Trefis) -- Amid the slowdown of the PC market in 2011, Intel ( INTC) managed to maintain its dominant position as market leader of the PC microprocessor industry. Despite revenue declining by 7% quarter over quarter and 2% year over year in the first quarter, we are of the view that the company performed well in a tough market and has a lot in the current year to look forward to.
We estimate that this year will witness an annual growth of 4.7% for PCs (excluding netbooks). The improved supply of hard disk drives, combined with improving job growth in the U.S. and the stabilization of sovereign debt issues in Europe, could lead to an upside to our estimate. Considering that the notebook and desktop processor business together accounts for nearly 52% of our price estimate for Intel, the speedy recovery in the PC market is important for the company.