Morgan Stanley’s latest 2023 PC market forecast believes that the entire PC market has fallen to its lowest point in two decades, but Apple is still a “potential stock” among computer manufacturers.
In a report shared with investors on Tuesday, Morgan Stanley lowered its forecast for the PC market, lowering its 2023 shipment estimate from 261 million to 249 million. This is due to a number of factors, including weaker-than-expected market demand, increased channel inventory, etc., resulting in weakness in both the consumer and commercial markets.
It is learned from a Morgan Stanley analysis: “Weak consumer demand, significantly weaker enterprise demand, a weaker U.S. and European economy and increased inventory in the global channel will lead to a decline in PC shipments to 249 million units in FY23, a 12.5% year-over-year decline.
The average selling price of PCs is now expected to decline 3% year-over-year due to “lingering inflationary pressures and an aggressive mix shift. Morgan Stanley sees total transaction volume falling to $206 billion in fiscal 2023, 26 percent below the $279 billion peak in 2021, driven by weaker shipment expectations and lower average selling prices.
In its report, Morgan Stanley focuses on Apple, which it considers “the top choice among global PC original equipment manufacturers. Apple had the most significant price target increase of 15 percent, followed by Dell with an 11 percent increase. Morgan Stanley sees Asus and Acer dropping 40 percent and 43 percent, respectively.
