https://markets.businessinsider.com/news/stocks/trouble-mounts-for-chipmakers-more-pain-ahead-1031775025
While shares of these chipmakers have declined quite a lot, Susquehanna analyst Christopher Rolland sees more pain ahead and lowered his price target on these stocks.
Rolland stated that his channel checks indicate that “PC market weakness may be extending beyond consumer and into enterprise as we now forecast ODM [original design manufacturer] builds to decline -20% YOY and PC shipments to decline -17% YOY (287M units and perhaps lower).”
This shouldn’t be a surprise to anyone.
The pandemic artificially pulled demand forward and this is the SnapBack. PCs have been flat to down for a decade now. Not a growth market.