Dell Technologies (DELL) and Apple (AAPL) are projected to lead the personal computer (PC) market, with IDC forecasting a year-over-year shipment growth of 4.1% by 2025, bringing global shipments to 274 million units. However, U.S. tariffs and economic challenges are expected to impact shipments negatively in the later part of 2025.
Dell’s commercial PC revenues rose 5% year over year to $12.5 billion, while its commercial client revenues increased 9% to $11.04 billion in the first quarter of fiscal 2026. Despite a decline in consumer business revenues by 19%, Dell’s second-quarter shipments reached 9.8 million units, trailing competitors Lenovo and HP. In contrast, Apple saw a 21.4% year-over-year increase in shipments to 6.2 million units, raising its market share to 9.1%. The Zacks Consensus Estimate forecasts Dell’s fiscal 2026 earnings at $9.47 per share, a 16.3% increase, while Apple’s is at $7.33, an 8.6% growth.
For year-to-date performance, Dell shares have risen 11%, outperforming Apple’s decline of 10.1%. Dell’s lower valuation metrics further suggest it may be a more favorable investment compared to Apple.
