Apple’s stock falls to lead the Dow’s losers after data showing PC sales plunged more than peers

Shares of Apple Inc.
AAPL,
-2.55%
dropped 1.3%, to pace the Dow Jones Industrial Average’s
DJIA,
-0.13%
premarket decliners on Monday, after International Data Corp. (IDC) reported the technology behemoth suffered a much larger decline in first-quarter personal computer sales than its peers. The market intelligence provider said over the weekend that global PC shipments sank 29.0% from a year ago to 59.9 million, as “weak demand, excess inventory and a worsening macroeconomic climate” all contributed to the “precipitous drop” in shipments. Apple’s PC shipments sank 40.5% to 4.1 million units, the fourth-most among traditional PC makers. Elsewhere, Hong Kong-based Lenovo Group Ltd.
LNVGY,
+1.09%
992,
-0.35%
shipments fell 30.3% to 12.7 million, HP Inc.
HPQ,
+0.97%
shipments declined 24.2% to 12.0 million units and Dell Technologies Inc.
DELL,
+1.12%
saw shipments were down 31.0% to 9.5 million. HP shares shed 0.8% in Monday’s premarket while Dell’s stock dropped 1.3%, while Dow futures
YM00,
-0.37%
gave up 131 points.