Goldman Sachs: 2Q26 PC Shipments End Nine-Quarter Growth, Component Shortage Lasts Until Early 2028

According to TechFlow Research, Goldman Sachs cited IDC data on July 8 showing that 2Q26 PC shipments totaled 68.2 million units, down 4.9% year-over-year, marking the first decline after 9 consecutive quarters of positive growth, primarily due to storage/memory component shortages and high ASP suppressing demand. Significant divergence among the top five vendors: Apple +10% (9.9% share), ASUS +0.2% (7.4%), Lenovo -2% (24.4%), Dell -5% (13.6%), HP -9% (19.1%). Goldman Sachs expects supply tightness to persist until early 2028, with 2H26 shipments potentially declining further; large vendors will continue to capture share from smaller vendors leveraging supply chain management capabilities, and industry concentration will continue to rise.