HP Grapples With The Evolving PC Market
Portfolio Pulse from Upwallstreet
HP Inc's Q3 report showed a drop in total revenue by 9.9% YoY to $13.20 billion, falling short of Refinitiv’s consensus estimate of $13.37 billion. The company's shares fell 5.6% in after-market trading. HP's PC rival, Dell Technologies, is set to report its Q2 results on August 31st. HP's CEO, Enrique Lores, expects sequential growth in Q4 but has lowered the company's outlook due to slower than expected external conditions. HP is turning to AI for growth opportunities as its legacy businesses fade.
August 30, 2023 | 2:30 pm
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POSITIVE IMPACT
Dell Technologies, a rival of HP, is set to report its Q2 results on August 31st. The company has partnered with Nvidia on an AI venture, which is expected to boost Dell’s Q2 earnings.
Dell's partnership with Nvidia on an AI venture is expected to boost its Q2 earnings, which could positively impact the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Nvidia has partnered with Dell on an AI venture, which is expected to boost Dell’s Q2 earnings.
Nvidia's partnership with Dell on an AI venture is expected to boost Dell’s Q2 earnings, which could positively impact Nvidia's stock price in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
HP's Q3 report showed a drop in total revenue and a fall in shares. The company has lowered its outlook due to slower recovery.
HP's Q3 report showed a drop in total revenue, which led to a fall in shares. The company has lowered its outlook due to slower recovery, which could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100