Morgan Stanley now expects 2026 PC shipments to decline more than 5% YoY

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Morgan Stanley now projects a decline of over 5% in global PC shipments for 2026, following a significant 14% miss in January notebook builds from top ODMs. This revised outlook is driven by weakening consumer demand due to higher memory-related prices and OEMs shifting towards higher-margin PC products. The firm anticipates a sharp 11% year-over-year drop in Q1 2026 notebook builds, potentially leading to a 10%+ decline in PC unit shipments for the entire year unless February or March show significant upside.

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