HP Inc.: Remain Neutral Despite Strength In The PC Segment
HP(HPQ) Seeking Alpha·2024-09-10 15:42
mixetto/E+ via Getty Images Investment summary My previous investment thought on HP Inc. (NYSE:HPQ) (published in March) was a hold rating because the valuation and demand outlook were not attractive. I remain on the sidelines for HPQ as the earnings outlook remains uncertain, despite the strength seen in the commercial PC segment, given the uncertain macro backdrop, non-existence of a growth catalyst and competitive pressure on margins in the print segment, and an elevated inventory level. 3Q24 results ...