Morgan Stanley analyst Erik Woodring called for selling HP, Logitech, and Cricut, three PC stocks.

(Reuters)

[Financial Channel/Comprehensive Report] According to a recent survey conducted by Morgan Stanley (Morgan Stanley), consumer demand for electronic products such as computers has declined, so Morgan Stanley analyst Erik Woodring reiterated his reduction on Friday (4th) HP, Logitech, and Cricut are three PC stocks.

According to comprehensive media reports, Erik Woodring said: "Although our AlphaWise consumer pulse survey conducted in late October showed that market sentiment has stabilized, since the end of the quarter, cautious sentiment has deteriorated in the consumer hardware and PC areas. Should put more downward pressure on consumer hardware."

Please read on...

On Friday (4th), HP closed up 6.11% to $28.29, Logitech closed up 6% to $51.21, and only Cricut closed down 4.12% to $8.6.

Erik Woodring reiterated that the three stocks have price targets of $24, $39, and $5, respectively.

The reason for the general rise in technology stocks may be that China's economy is about to recover with the zero policy shift.

The outlook for PC sales has been deteriorating throughout 2022, with worldwide PC shipments down 15% in the second quarter after a 5% annual decline in the first quarter of this year, according to research firm IDC.

PC shipments also fell 15% in the third quarter, IDC said on Oct. 10.

In addition, when two PC processor chip makers, Intel and AMD, announced their quarterly results in September, they also predicted that their revenue in the next quarter would be significantly lower than Wall Street's expectations, citing weaker demand for personal PCs.

Grasp the economic pulse point with one hand, I subscribe to the free finance Youtube channel

I'm already a friend, thanks

Welcome to [Freedom Finance]

Feel good

Liked already, thank you.

related news