While the world goes mad for AI, the humble PC is being left behind

Personal computer companies HP and Dell have had a tough week, with both stocks down more than 10% on Wednesday after it became clear that people, and businesses, still aren’t buying personal computers (PCs) like they used to... even if they have the word “AI” in their name.

With so many other technology-enabled categories getting a boost from AI, some investors had hoped that there might be a rose-tinted AI future for the two tech companies. Indeed, both  Dell and HP shares had ridden some of the AI wave this year: Dell shares had gained 87% and HP was up 30% before the release of the Q3 reports. That optimism isn’t flowing through to results, with both offering gloomy forecasts for the rest of the year.

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