Despite the supply chain disruptions, the PC market ended last year with double-digit growth. Global PC shipments surpassed 90 million in the last quarter of 2021 for the second consecutive year. The demand for computer hardware is increasing as individuals and companies are creating remote IT setups amid delays in office reopening plans. Furthermore, the rapid advancements in hardware systems and architectures to support advanced artificial intelligence and machine learning in the big data era are shaping the future of the hardware industry.
One of the most famous names in the computer hardware industry, Western Digital Corporation (WDC), topped the consensus estimates in both top and bottom lines in its last reported quarter. However, WDC shares tumbled on its weaker-than-expected outlook for the ongoing quarter. The company also cited supply chain issues as the reason for not fully meeting strong demand. The stock has slumped 19% over the past six months and 19.4% year-to-date to close its last trading session at $52.57. In addition, several analysts have lowered their price targets on the stock after the company posted its results.
