Bloomberg: Dell, Lenovo and HP have sufficient capacity to deal with storage shortages

The Zhitong Finance App learned that this week, Bloomberg technology industry analyst Woo Jin Ho released a research report saying that Dell, Lenovo, and HP have the ability to cope with the impact of the PC DRAM market.

According to the opinion, leading PC manufacturers such as Lenovo, Dell, HP, Apple, and Acer have sufficient capacity to withstand the impact of rising DRAM prices in the second half of 2026 with healthy inventory levels, superior market share advantages in procurement scale, and the ability to pass on costs to customers.

With procurement volume and scale advantages, the five largest PC manufacturers, Lenovo, HP, Dell, Apple, and Acer, are expected to gain a small increase in market share. Together with their leading positions in the server, smartphone, and enterprise storage markets, these five vendors are expected to have stronger procurement capabilities and are more likely to receive priority in memory supply.

The remaining manufacturers, which account for the remaining 25% of the market share, correspond to about 65-70 million PCs, but they may need to purchase memory at a higher premium, making it difficult to implement competitive pricing strategies. This has created an opportunity for leading manufacturers to further expand their market share in the low to medium range.

The report predicts that AI PCs are expected to account for 54% of total shipments in 2026, up from 34% in 2025; of these, AI PCs with computing power below 40 TOPS will account for 32% of total shipments and 62% of AI PC demand.

In addition to AI, Windows 11 upgrades will still be the main catalyst for Dell, Lenovo, and HP shipments in 2026. The current Windows 11 upgrade schedule is already behind the previous cycle. Currently, around 35%-40% of Windows PCs are still using the old operating system. This upgrade should help support shipments in the context of rising PC prices, especially for the three leading manufacturers in the commercial PC sector mentioned above.

Over the past 12 months, Dell, Lenovo, and HP together accounted for 75% of global commercial PC shipments. Although commercial customers generally have strong brand loyalty, and demand elasticity in this segment is lower than that of the consumer market, PC manufacturers will continue to strive to support demand through optimized configurations to maximize sales.