Dell, HP say demand for PCs to be higher in future - Wells Fargo

HPQ Silicon

02/12/2021 15:34

** Brokerage Wells Fargo says Dell  DELL.N  highlighted a
continued expectation that PC demand will be structurally higher
moving forward, boosted by a resurgence in corporate demand in
the near term
    ** DELL expects supply constraints to continue through at
least 2022 and sees inflationary semiconductor prices and
increased logistics costs, just like others - Wells Fargo
    ** The brokerage made the comments at its virtual Wells
Fargo TMT Summit
    ** HP  HPQ.N  believes that the PC Total Addressable Market
has simply increased due to the pandemic and expects to see a
higher level of units going forward vs pre-pandemic levels -
Wells Fargo
    ** PC-maker HPQ up 0.8% at $36.76, DELL down 0.4% at $55.5
    ** Up to Wednesday's close, HPQ had risen ~48% YTD, DELL
rose ~50% YTD

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com;))