J.P. Morgan: PC shipment decline trending upward as Apple market share remains stable
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- January 11, 2024
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Affiliate Disclosure If you buy through our links, we may get a commission. Read our ethics policy . J.P. Morgan: PC shipment decline trending upward as Apple market share remains stable Wesley Hilliard | Jan 10, 2024 Mac Studio 0 Facebook x.com Reddit Apple's Mac sales have been variable based on new product releases, leading to a tough compare in Q4 2023 .
The overall PC market, however, has seen a more consistent year over year percent decline, though it's recovering. According to a J.P. Morgan note seen by AppleInsider based on IDC data, the PC market is still in decline with an atypical quarter over quarter drop for Q3 to Q4 2023. This decline shouldn't be news to analysts as brands like HP and Dell warned of such market conditions, but the year over year change shows a positive trend.
Traditional PC shipments declined 2% from Q3 to Q4 2023, which is usually a positive change historically. Shipments declined 3% year over year in Q4 2023, the eighth consecutive quarter of declines. Traditional PC Shipments Y/Y % Change. Image source: JP Morgan However, that single digit decline is a positive trend, as previous year over year compares were at 8%, 13%, and 29% declines.
HP and Lenovo are the only PC makers that grew market share sequentially in Q4 2023. Apple's market share remained relatively flat, moderating from 10.6% to 8.5% across the quarters. Looking at the full year basis, Apple's market share declined to 8.8% from 9.6%. Y/Y % Change in Mac Revenue Shipments and market share changes are dependent on Apple's asymmetrical release cycle.
Products tend to arrive at different points throughout the year each year, leading to odd spikes and drops in year over year shipments. However, it all averages out with a consistent market share. Apple is expected to announce new Macs running the M3 family of processors in the first half of 2024. These models could include updated MacBook Air models, an M3 Mac mini , and a Mac Studio ..
