Smartphones, tablets and countless cloud services that eliminate the need to store or view data from one particular device are biting into PC sales, and every company down the supply chain seems to be feeling the effects. Intel is no exception: stocks are down in light of investor concerns over the economy.  As mobile competition grows, lowered summertime sales display the microcosm of the bigger trends taking place in the consumer electronics market.

“The Philadelphia Semiconductor Index has dropped 15 percent since the end of April, worse than a 4 percent dip in the Dow Jones industrial average.

Top PC chipmaker Intel is in a standoff against investors who believe high U.S. unemployment and a growing preference for Apple’s iPad 2 are hobbling demand for consumer laptops.”

Intel doesn’t have much of a foothold in the mobile market, unlike competitors AMD and Qualcomm. The chipmaker’s earnings call is set for this Wednesday, and while the company beat expectations last year, analysts doubt that its optimistic global PC sales forecast will hold this quarter. Intel said other forecasts did not calculate in several million units that will be built by small manufacturers in developing nations.

Reuters predicts Intel will report a 5 percent increase in revenue, compared to an average of 8 percent for this time of year.

Two more companies that are experiencing this burst of interest in mobile and cloud are Hewlett-Packard and Dell, though they still top the list as the top two biggest PC makers by sales. Hewlett-Packard has been gaining momentum from emerging markets, and also expanded to cloud infrastructure and mobile industries under chief executive Leo Apotheker.

Dell, which had its earnings call last week, has been doing something similar. The company reported a 5 percent growth in revenue year-over-year thanks to, among other things, a 7 percent increase in its enterprise business.