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PC Demand During Pandemic Fuels Strongest U.S. Market Growth in a Decade

PC Demand During Pandemic Fuels Strongest U.S. Market Growth in a Decade

A surge in remote work, study and home entertainment during the coronavirus pandemic boosted personal computer sales in the third quarter and drove the strongest growth in a decade in the U.S., according to industry data.

Much of the growth came from Chromebooks, with a roughly 90% surge in the third quarter driven by distance learning, especially in the U.S., according to preliminary data from

Gartner Inc.,

one of the firms that tracks PC shipments.

While Gartner doesn’t include Chromebooks in its traditional PC market results, on Monday it said that including Chromebooks, world-wide PC shipments rose around 9% year over year in the quarter, with Chromebooks representing about 11% of the combined PC/Chromebook market.

Data from research firm Canalys showed notebook and mobile workstation shipments also driving growth in the quarter, while sales of desktops and desktop workstations declined 26%.

International Data Corp. recorded growth in notebook shipments, driven by consumer sales and education, but the desktop segment saw a year-over-year decline with gaming offering some respite.

The pandemic, the data show, has put PCs back in the spotlight.

“It used to be the case that smartphones were king,” said Jitesh Ubrani, IDC’s research manager for Mobile Device Trackers.

Mr. Ubrani noted smartphone shipments declined in the second quarter and are expected to decline in the third quarter.

“At the start of the pandemic,” he said, people “pulled out their old PCs in many cases and they realized that this PC is really too old to be productive.”

Overall, PC shipments rose 3.6% to 71.4 million units in the third quarter, driven by an 11.4% growth in the U.S., the first time in a decade that the region has seen double-digit growth, according to preliminary data from Gartner.

IDC pegged the increase at 14.6% to 81.3 million units, also

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RMB Has Strongest Single-Day Gain In 15 Years VS The USD

RMB Has Strongest Single-Day Gain In 15 Years VS The USD

Week In Review

  • The Wall Street Journal pointed out this Monday that China has steadily increased its purchases of US crude oil since May.
  • Bloomberg announced this Tuesday that Singaporean sovereign wealth funds, GIC and Temasek will participate in the Ant Group IPO, with the former reportedly making a $1 billion investment.
  • It was reported this Wednesday that over 400 million Chinese are vacationing domestically during the Golden Week holiday. Thus, it is no surprise that consumption plays are performing well this week.
  • On Thursday, Ping An Insurance-backed company Lufax Holdings filed for a New York Stock Exchange listing under the ticker LU.

Key News

Let’s not bury the lead: THE STRONGEST SINGLE DAY OF PERFORMANCE FOR THE RENMINBI VERSUS THE US DOLLAR IN 15 YEARS! The renminbi (RMB) moved $0.09 versus the USD last night! You might remember how China “devalued” its currency back in August 2015. Last night’s move was almost the same magnitude as 2015, but the other way around! Regardless, back then the headlines SCREAMED about the “devaluation” for weeks. Don’t get me wrong, Summer 2015 was awful as China’s Mainland stock market fell and then the currency drop left a Grand Canyon-sized wrinkle in between my eyebrows. However, with such a strong move to the upside, I would have expected at least a few headlines covering the RMB’s historic positive move last night… (For my friends in Europe & UK, the appreciation wasn’t as pronounced versus the Euro or Pound.)

While I have your attention, I will point out the growing disparity between MSCI’s
MSCI
definition of Chinese A-Shares and domestic indices such as the CSI 300. MSCI added mid-cap stocks to its definition of A-Shares in November 2019. My colleagues and I have been pounding the table about how the mid-caps gave MSCI’s

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