Apple (NASDAQ: AAPL) slipped in pre-market trading on Monday after the tech giant’s Mac sales had the worst first quarter, according to research firm IDC. The IDC report stated that AAPL’s Mac sales fell 40.5% year-over-year, worse than the overall PC market.
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The report stated that global PC shipments came in at 56.9 million in the first quarter, down from 80.2 million in the same period last year – a decline of 29.1% year-over-year.
IDC’s research manager Jitesh Ubrani commented, “Though channel inventory has depleted in the last few months, it’s still well above the healthy four to six week range. Even with heavy discounting, channels, and PC makers can expect elevated inventory to persist into the middle of the year and potentially into the third quarter.”
In contrast, HP (HPQ) saw its PC shipments decline by 24.2% year-over-year in Q1.
Analysts remain bullish about AAPL stock with a Strong Buy consensus rating based on 23 Buys, five Holds, and one Sell.
