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HP Inc HPQ Stock Quote

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Morningstar‘s Stock Analysis HPQ

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Is it the right time to buy or sell?

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HP Sees a Downturn in Demand, but Remains Optimistic About Driving Value; Maintain $29 FVE

Analyst Note

| William Kerwin |

We are maintaining our $29 fair value estimate for no-moat HP after it reported third-quarter results below our expectations for top line, but met guidance and our at-consensus estimates for earnings. We view shares, which came down 6% after-hours, as fairly valued. In the quarter, we saw a negative inflection point for consumer spending against a backdrop of higher inflation, currency headwinds, and the Russia-Ukraine conflict. Moreover, we believe elevated PC demand levels driven by hybrid working and schooling as well as computer refreshes among offices are beginning to ease, as manufacturers work through the backlog. We remain critical of HP having durable demand drivers due to skepticism regarding PCs entering a new era of lasting demand.

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Key Statistics HPQ

Company Profile HPQ

Business Description

HP Incorporated is a leading provider of computers, printers, and printer supplies. The company’s mains segments are personal systems and printing. Its personal systems segment contains notebooks, desktops, and workstations. Its printing segment contains supplies, consumer hardware, and commercial hardware. In 2015, Hewlett-Packard was separated into HP Incorporated and Hewlett Packard Enterprise and the Palo Alto, California-based HP Incorporated sells on a global scale.

1501 Page Mill Road
Palo Alto, CA, 94304
T +1 650 857-1501
Industry Computer Hardware
Most Recent Earnings Jul 31, 2022
Fiscal Year End Oct 31, 2022
Employees 51,000

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