A February 2 note from Citi Research entitled “Slashing PC Estimates” painted a very bleak picture for PC sales in 2016. Despite harsh criticism for the call from investors at the time, a new report by analyst Jim Suva indicates that early 2016 PC data is supporting Citi’s bearish thesis.

On February 2, Citi called for 2016 PC unit forecast growth of -6.0 percent, well short of consensus estimates based on improving trends in the second half of 2015. “Our ‘Slashing PC Estimates’ sector call is bold, outright negative, and very different from consensus with tremendous pushback from investors,” Suva explained.

However, recently-released PC notebook ODM data from Taiwan indicates 38 percent m/m and 25 percent year-over-year declines in the month of January.

Citi is calling…

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