Wall Street Beat: Mixed news for chips as Groupon IPO soars

04.11.2011
There was mixed news on PC and microprocessor market growth this week, while the Groupon initial public offering Friday showed that there are plenty of people betting that social media will continue to drive technology trends.

While PC microprocessor sales increased year over year in the third quarter, economic uncertainty and softer-than-expected demand have caused IDC to cut forecasts for the market this year.

Worldwide PC microprocessor revenue in the third quarter rose to US$10.7 billion, up by 12.2 percent compared to the prior quarter and up 16.1 percent year on year, according to .

However, IDC said in its report Thursday that it is cutting its growth forecast for the market from 9.3 percent to 7.3 percent for the year.

"Combined with a weak macroeconomic outlook -- due to sovereign debt issues in Europe and poor job growth in the United States -- IDC is reducing its client PC processor (desktop, mobile, x86 server) unit growth forecast for 2011," the company said.

In its own report earlier in the week, despite flat-to-slow growth in PC shipments worldwide over the past year.