Intel can get in big legal trouble with the SEC for lying on these type of financial announcements, so I tend to give a little more cred to regulated stuff like this than just some random analyst.
They're both right. I built a new PC this year. So did no less than three of my coworkers. We all finally felt it was time. And we all bought Intel CPUs, because let's face it, AMD can't seem to get their heads above water. But not one of us gave any money to the companies this analyst is talking about. We all built machines, not bought machines. I have a sneaking suspicion that this is considerably more common than it once was. Not everybody can build a PC, but practically everybody knows somebody who can, and when they ask that somebody, "How do I get a new PC without Windows 10?" that's the answer: build it yourself.
So that's what's happening. PC component sales are enjoying a resurgence. Each generation of upgrade for the past 8 years has indeed been a small percentage increment in performance, but it's been like compounding interest. At the end of four or five generations of 5-10% faster than the previous generation, a completely current machine is actually quite damn fast compared to your old desktop that was doing everything you wanted and seemed ok after an SSD upgrade.
Today, you build a 6 core i7 with 32 GB of RAM, an nVME 4X storage device, and a GeForce 1070 or 1080 and the difference between that and your 8 year old machine is kind of tremendous. Meanwhile you can't get a pre-built system at all with those specifications from many builders, and for the rare few who will do it, they want to charge you 3X to 4X retail on the components and still try to stick you with Windows 10. So yeah, they're losing sales. And since we haven't paid for a new machine in nearly a decade, and since we're expecting our new systems to last another decade, we're willing to spend like it's 1995 again, so we're buying high end components.
Ergo, PC sales are down, parts sales are up.