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PC growth on track in 3Q
Research shows global sales rose as
expected, but Europe was weaker
By Staff Writer Richard Richtmyer
October 20, 2000: 3:17 p.m. ET
NEW YORK (CNNfn) - Shipments of personal computers during the third
quarter rose more than 16 percent, with Asia-Pacific and Japan driving much of
the strength, a Merrill Lynch analyst said Friday.
Citing figures compiled by technology research firms International Data Corp.
and Dataquest, Merrill's Steve Fortuna said the quarter's results were in line
with his expectations and indicate strength moving into the fourth quarter.
"IDC saw worldwide unit growth in 3Q of roughly 18.3 percent, while Dataquest
saw worldwide unit growth around 15.2 percent," Fortuna said in a research
note Friday. "Averaging the two together puts it in the mid-to-high 16 percent
range, which is roughly in line with our forecast 17 percent for 3Q."
Neither the IDC nor the Dataquest figures were available on those firms' Web
sites Friday. Analysts at IDC said they would not release their data until
Monday. Analysts from Dataquest could not immediately be reached for
comment.
In his note, Fortuna said the numbers indicate that growth was strongest in the
Asia-Pacific region and Japan, while Europe "does not appear to be particularly
strong."
Hewlett-Packard (HWP: Research, Estimates) showed the strongest gains,
rising in the 30-40 percent range. Dell's (DELL: Research, Estimates)
shipments rose roughly 21-22 percent. Meanwhile, Compaq's (CPQ: Research,
Estimates) unit shipments rose approximately 13-14 percent in the quarter,
Fortuna said.
"We think these results are good, in line with our expectations, and think we
are set up for a good 4Q," Fortuna said in the note.
PC makers, which had been beaten down in recent weeks after earnings
warnings from industry heavyweights including Intel (INTC: Research,
Estimates) and Dell for the most part continued to move higher Friday.
Compaq shares were up $1.38, or 5 percent, at $29.08. HP gained $5.56 to
$96.50, a 6.1 percent advance. Gateway rose $1.75, or 3.2 percent, to $56.75.
Dell edged up 9 cents to $28.90. |
