PC Shipment Decline Not Good, But Better than Expected - Nomura (MSFT)
Get Alerts MSFT Hot Sheet
Rating Summary:
52 Buy, 7 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
Nomura Securities analyst Rick Sherlund reiterated a Buy rating and $45 price target on Microsoft (NASDAQ: MSFT) following data that Global PC units shipments in Q1 were estimated to be down 1.7% according to Gartner, while IDC estimates shipments were down about 4.4%.
Sherlund said, "This is a bit better than the decline of 5% to 6% that was expected, but directionally consistent with expectations for declining Windows OEM revenues for Microsoft. The conclusion continues to be one of PC demand being less bad relative to expectations, so not good news, just not as bad as expectations and results from a year ago. The most recent full-year 2014 estimates from Gartner and IDC call for PC units to be down 1.5% and 6.0%, respectively. Commercial PC demand was the driver of growth again in Q1. We suspect the year will look a lot like Q1."
For an analyst ratings summary and ratings history on Microsoft click here. For more ratings news on Microsoft click here.
Shares of Microsoft closed at $40.47 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Microsoft's (MSFT) OpenAI Partnership Could Face EU Antitrust Investigation, Sources Say - Reuters
- TD Cowen Resumes EQT Corp. (EQT) at Hold
- Active options: MSFT MU GOOG BAC PLTR COIN PFE
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Nomura, Rick SherlundSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!