JPMorgan Cuts 2011 PC Outlook Due to China, Weak Global Consumer

J.P. Morgan is cutting its 2011 PC unit growth, revising it down sharply for a variety of reasons. The two largest reasons are China, and a weak global consumer that is facing rising commodity costs and an uncertain economic future. J.P. Morgan said that it is cutting its unit growth outlook to 2.8% from 7%, and is cutting its revenue growth from 3% to 0.7%. J.P. Morgan said that PC lives are becoming increasingly longer, and that upside is not expected in Dell DELL, Hewlett-Packard HPQ, Seagate STX, and Western Digital WDC. Apple AAPL has taken market share from the PC sector, and J.P. Morgan expects this trend to continue.