During his keynote for the launch of the iPhone 5, Apple CEO Tim Cook referred to the ‘post-PC world’, a term Apple’s late CEO Steve Jobs first mentioned. Cook suggested that the iPad is driving the post-PC revolution at a breathtaking pace.
Now Citigroup analyst Glen Yeung has downgraded his ratings on Intel, Advanced Micro Devices and Nvidia claiming that the shift away from PC is affecting these companies.
Yeung explains: “While these names are down noticeably in recent days, prompted by a noticeably weak August and punctuated by Intel’s recent pre-announcement, our downgrade today reflects our checks in Asia that stoke our concerns that the intermediate term prospects for PC’s do not look optimistic,” reports Wall Street Cheat Sheet.
Yeung adds: “Robbed of catalysts, we see limited likelihood PC-related shares will appreciate meaningfully in coming months, despite valuations.”
Even the launch of Microsoft Window 8 won’t resuscitate the dying PC. Yeung does not believe the upcoming launch of Window 8 will be enough to spark the PC industry.
Cook described his vision for the post-PC world in a speech back in March. He said: “When we’re talking about the post-PC world, we’re talking about a world where the PC is no longer the center of your digital world, but rather just the device. We’re talking about a world where your new device, the devices you use the most, need to be more portable, more personal, and dramatically easier to use than any PC has ever been.”
Steve Jobs’s was the first to mention the idea that we are living in a “post-PC world”.