PC Stocks Get a Lift Amid COVID-19
With scores of companies ordering employees to work at home, schools shuttered around the country, and millions of people sheltering in place, demand for computer equipment is seeing a resurgence, which bodes well for PC stocks.
Demand for everything from software to laptops is surging, which is good news for an industry that was predicted to see lackluster year-over-year growth. The demand is also boosting the prospects for several PC-related tech stocks, all of which should enjoy sales growth as social distancing takes hold globally.
Consider this: According to market research firm The NPD Group, in the first two weeks of March, when large companies began ordering employees to work from home, and schools were closing around the country, computer monitor sales increased almost two times versus the same period a year-ago. Meanwhile, sales of mice, keyboards, and notebook PCs increased by 10% compared to the first two weeks of last March. On the business front, NPD said B2B (business to business) data showed notebook sales increased more than 50% in the first two weeks of March, while monitor sales jumped 40% compared to the same period a year-ago.
Source Fool.com
