The recent IDC and Gartner PC number were just awful for the PC complex. The numbers were just crap.
The post PC computing evolution is here, and PC shipment trends are not going to change.
The companies too reliant on the PC deserve a lower, much lower, valuation vs the companies positioned to benefit from this evolution.
On a forward basis, the pc duopoly (intc and msft) have a comparative valuation to the post-PC poster-boy company (aapl):
MSFT = 9.21
INTC = 10.53
AAPL = 8.80
First, the shipment reports suggest the forward earnings of msft and intc are very suspect.
Second, based on the trends, money flow via the big boys should move away from the weak players and into the well positioned player. (Especially since msft and intc attempts at the post PC world have thus far failed.)
As the market stands today. The market, aka bigboy money, is currently saying msft and intel are in a better future position than AAPL.
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