Floods cut computer drive supply
SAN FRANCISCO » The personal computer industry, already reeling from depressed demand, has been dealt another setback: Massive flooding in Thailand has curtailed production of a critical component: computer storage drives.
Factories producing a third of the country’s hard drives have temporarily closed as flooding has gradually spread since August. Prices have spiked, and Apple warned that its Mac products will likely be affected.
Computer manufacturers, the companies that supply hard drives and the makers of components for those drives are all bracing for trouble. What’s not yet clear is to what extent PC production lines will be affected and whether PC makers will absorb costs or pass them along to consumers.
Thailand makes about a quarter of the world’s hard drives and is the second-largest producer behind China, according to IHS iSuppli.
Apple’s leaders will stay, says Gore
Apple Inc. likely won’t face an exodus of executives after the death of Steve Jobs, board member and former U.S. Vice President Al Gore said.
"Their loyalty to the company is quite deep," Gore said last week at the All Things D technology conference in Hong Kong.
Jobs, who returned to Apple in 1997 as interim CEO and guided it from near bankruptcy to become the most valuable technology company, died earlier this month after a battle with cancer. Employees memorialized Jobs on Wednesday.
Coming Up
» Today: Bank of Hawaii, Amgen and Caterpillar release financial results.
» Tuesday: The Conference Board releases the Consumer Confidence Index for October.
» Wednesday: Commerce Department releases durable goods for September. Commerce Department releases new home sales for September. Dole Food releases financial results.
» Thursday: Commerce Department releases third-quarter gross domestic product. National Association of Realtors releases pending home sales index for September.
» Friday: Commerce Department releases personal income and spending for September. Central Pacific Financial Corp. and Chevron release financial results.