CNBC’s Jim Cramer on Monday said the artificial intelligence-driven PC upgrade cycle doesn’t seem to have hit just yet, even as it’s been about four years since the last refresh phase.
“The big AI-driven PC refresh cycle seems to be on hold, even though they’re confident it’ll play out,” Cramer said of companies that sell the products. “It sounds more like a normal upgrade cycle than anything revolutionary, which I’ve found to be a tad disheartening.”
He reviewed recent earnings from Dell, HP and Best Buy, noting that all three saw shares decline after the reports failed to impress Wall Street. But he suggested that the three major consumer technology outfits are high-quality, so he’s inclined to give them the benefit of the doubt.
While Best Buy’s results largely disappointed, Cramer noted that PC sales were more encouraging than the quarter itself. Management indicated on the earnings call that PC sales were driven by demand …