Micron chief executive Sanjay Mehrotra told CNBC’s Jim Cramer on Thursday that the marketplace for enterprise and desktop PCs stays healthy despite the non-public PCs market experiencing a slowdown.
“It is not like anything is falling off the cliff,” Mehrotra said in an interview on “Mad Money.”
“Yes, while consumer PCs recently usually are not experiencing the identical sort of growth where they experienced in [the] last two years … enterprise PCs and desktop PCs proceed to be a healthy market,” he added.
As people return to the office and to in-person learning this 12 months, PC sales have receded. Gartner said in April that it estimates shipments of PCs slid 7.3% from a 12 months earlier. Canalys noted a 3% dip in shipments in the course of the first three months of this 12 months.
The losses come after 2021 saw an enormous boom within the PC market – PC sales experienced its fastest growth in 20 years in the course of the first quarter of 2021 and saw a 15% growth overall that 12 months.
The Micron CEO also chimed in on handsets.
“With respect to handsets, in China, with certain smartphone manufacturers, their end demand as a result of Covid lockdowns is somewhat weak. So some inventory adjustments by certain handset manufacturers in China [have been made],” he said. “What is essential is, overall handsets … continues to be a big market,” he added.
Enroll now for the CNBC Investing Club to follow Jim Cramer’s every move available in the market.
Questions for Cramer?
Call Cramer: 1-800-743-CNBC
Questions, comments, suggestions for the “Mad Money” website? email@example.com