Micron CEO Sanjay Mehrotra told CNBC’s Jim Cramer on Thursday that the desktop and business PC market remains healthy even though the personal PC market is experiencing a slowdown.
“It’s not like something is falling off the cliff,” Mehrotra said in an interview on “Mad Money.”
“Yes, while consumer PCs lately aren’t experiencing the same kind of growth that they’ve experienced in [the] past two years…business PCs and desktop PCs are still a thriving market,” he added.
As people return to the office and in-person learning this year, PC sales have receded. Gartner said in April that it estimates PC shipments fell 7.3% from a year earlier. Canalys noted a 3% drop in shipments for the first three months of this year.
The losses come after a huge boom in the PC market in 2021: PC sales saw their fastest growth in 20 years during the first quarter of 2021 and saw 15% overall growth that year.
Micron’s CEO also weighed in on phones, which he says have seen steady growth but also remain healthy.
“Regarding phones, in China, with certain smartphone manufacturers, their final demand due to Covid lockdowns is somewhat weak. So some inventory adjustments by certain phone manufacturers in China [have been made]”, he said. “What’s important is that, in general, phones … it’s still a big market,” he added.
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