“What’s a PC?”

“PC makers are succumbing to the fate of those who don’t learn from history, not even their own,” said Erik Gordon, a professor at the Stephen M. Ross School of Business at the University of Michigan. The industry’s reaction has been “like responding to the early auto industry by trying to attach wheels to the hooves of horses.”

My babies are native tablet and mobile users. They’re much more likely to have a regular relationship with Apple or Android than they will with HP, Intel or Microsoft.

This is why when I hear traders try to pick bottoms in these formerly great stocks and I read value investors gush over their cash flow, I shake my head. It’s not that I could’ve predicted this years ago, it’s just that I see it happening now. And that’s good enough to save myself a lot of money and aggravation.

The PC era is ending. Aaron Ricadela quantifies the damage in an excellent Bloomberg story today:

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