With the lack of innovation and the rise of the smartphone, everyone has come to expect tepid personal computer sales. However the latest data show sales aren't just weak, but are getting materially worse.
Micron, a maker of PC memory chips, disappointed investors Tuesday with a revenue guidance range of $2.9 billion to $3.2 billion for the next February quarter versus the FactSet Street estimate of $3.46 billion.
"While Micron is hopeful market conditions will improve in calendar year 2016, it appears as if the Grinch stole Christmas this year as the challenging memory environment takes its toll on FQ2 (fiscal second quarter) guidance," Wedbush Securities' Betsy Van Hees wrote in a note to clients Wednesday.
In addition to Micron's guidance, the latest PC sell-through data are just as gloomy...