Business and desktop PCs remain ‘a healthy market’ as personal PCs see slowdown, says Micron CEO

Micron chief executive Sanjay Mehrotra told CNBC’s Jim Cramer on Thursday that the business and desktop PC market remains healthy despite the downturn in the personal PC market.

“It’s not like something is falling off the cliff,” Mehrotra said in an interview on “Mad Money.”

“Yes, although consumer PCs aren’t seeing the same type of growth as before [the] past two years…enterprise PCs and desktop PCs continue to be a healthy market,” he added.

As people return to the office and to in-person learning this year, PC sales have declined. Gartner said in April that it estimated PC shipments fell 7.3% from a year earlier. Canalys noted a 3% drop in shipments in the first three months of this year.

The losses come after 2021 saw a huge boom in the PC market – PC sales saw their fastest growth in 20 years during the first quarter of 2021 and saw overall growth of 15% this year – the.

The Micron CEO also weighed in on handsets, which he said have seen stabilized growth but also remain healthy.

“As for handsets, in China, with some smartphone makers, their end demand due to Covid lockdowns is somewhat weak. So some inventory adjustments by some handset makers in China [have been made]”, he said. “What’s important is that handsets as a whole…continue to be an important market,” he added.

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