Opinions
Ross Healy
Hewlett-Packard Co
HPQ-N
COMMENT
Mar 14, 2014
Stock price when the opinion was issued
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Premium contentHP trades at 11.83x compared to Dell’s 28x. It also pays a 3.18% dividend vs. Dell’s 1.28%. Though the two companies make up half the market’s PC sales, HP says its new line of AI PC’s won’t make a dent in their earnings until the second half of 2024 and particularly 2025. The company’s Q2 total revenue for was $12.8 billion, down slightly from last year's $12.91 billion, but better than the $12.59 billion the street expected.
Premium contentHP Inc. is an information technology company, which engages in the provision of personal computing and other access devices, imaging and printing products, and related technologies, solutions, and services. It operates through the following segments: Personal Systems, Printing, and Corporate Investments. The Personal Systems segment offers commercial and consumer desktop and notebook personal computers, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.
People have to eventually realize this is not just a PC company. Certainly cheap on a PE basis. Had a big write off a little while ago which knocked the Book Value down but their return on equity is high, PE is low and if you get some nice returning confidence into the high tech sector, then this remains fairly cheap, about 1.5X BV.