Personal computer (PC) shipments rose in this year’s first quarter as orders and deliveries increased with companies scrambling to get ahead of import tariffs.
Research firm Canalys estimates that shipment for PCs rose more than 9% during Q1, while data from IDC Research pegs the growth at 5% from a year earlier. The growth translates into about 63 million PC units shipped in the first three months of the year.
The growth is good news for PC makers such as Dell Technologies (DELL) and HP Inc. (HPQ), as well as PC component manufacturers such as Logitech International (LOGI). The rise in PC shipments comes as companies and consumers raced to beat the deadline for U.S. President Donald Trump’s import tariffs, which threatened to raise prices for computers and other electronics that are made outside America.
Return to Growth
The Q1 sales growth was especially welcome given that the PC market has been largely stagnant in recent years following a surge in purchases during the Covid-19 pandemic when people were working and going to school remotely from home. In 2024, worldwide PC shipments increased only 1% after two straight years of declines, according to IDC data.
Despite the strong sales between January and March, it remains to be seen how President Trump’s ongoing tariffs will impact demand going forward, especially with a 125% tariff placed on goods imported from China, where much of the world’s PC manufacturing takes place. Canalys said notebook shipments grew 10% during Q1 to more than 49 million units, while desktop shipments rose 8%.
Is DELL Stock a Buy?
The stock of PC maker Dell Technologies has a consensus Strong Buy rating among 14 Wall Street analysts. That rating is based on 11 Buy and three Hold recommendations issued in the past three months. The average DELL price target of $134.39 implies 60% upside from current levels.
