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HP Inc

HP Inc

HPQ
$35.48USD↑+8.40%+2.75 today

MARKET CAP

32.0B

P/E (TTM)

13.5x

FWD P/E

—

DAY RANGE

$33 – $36

52W RANGE

$18
$36

AI Summary

Stalk
StalkMedium

HPQ remains in a Stage 2 advance exhibiting a steepening parabola with price accelerating far above rising EMAs. The medium-term bias is bullish, but extreme overbought conditions and a pronounced extension above the EMAs argue against immediate entry. Execution should be deferred, stalking for a pullback into the 9/20 EMA support zone for a more favorable reclaim and acceptance.

  • ↑Q3 revenue $15.7B (+13% YoY); Personal Systems up 18%.
  • ↑AI-enabled PCs set to constitute 50% of shipments by year-end.
  • ↓Gross margin fell to 18.8%; input cost pressures to persist into Q4.
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The case for & against

Bull & Bear analysis

Bullish

HP Inc. (NYSE: HPQ) is a leading player in the personal systems and printing solutions sectors, focusing on innovation driven by the rising demand for AI technologies. The company capitalizes on trends such as AI at the edge and premium device markets, positioning itself to adapt to a complex market environment characterized by fluctuating costs and evolving consumer preferences. HP is strategically focusing on enhancing its product offerings to meet customer needs across various industries, while aiming for significant growth in AI-driven solutions.

Bull says

  • ↑Q3 revenue $15.7B (+13% YoY); Personal Systems up 18%.
  • ↑AI-enabled PCs set to constitute 50% of shipments by year-end.
  • ↑Returned $600M in Q3; policy to return 100% of free cash flow.
  • ↑Generated $1.6B FCF in Q3 ($2.5B YTD), supporting dividends and buybacks.
  • ↑Strong earnings and dividend yields plus low price volatility enhance defensiveness.
  • ↑Innovation in AI-driven printers and premium PCs bolsters competitive moat.

Bear says

  • ↓Gross margin fell to 18.8%; input cost pressures to persist into Q4.
  • ↓Growth revisions point to declining earnings momentum ahead.
  • ↓Print segment revenue down 2% YoY amid competitive pricing pressure.
  • ↓High short interest (~59%) reflects skepticism on future performance.
  • ↓Profitability factors weakened, with operating margin at 6.5% under pressure.
  • ↓Execution risks in AI transition may hinder sales and market perception.

Investment themes with HPQ

High Dividend Yield↓ -0.51%

Companies paying above-average dividends

AVGO · JPM · XOM

Earnings Call · Q3 2025 · Mgmt. Guidance

Updated 08-27-2026neutral

Transcript signals

Bull points

  • We drove another quarter of solid revenue growth with continued momentum in personal systems, fueled by AIPC and Win11 refresh activity, and strong performance in our key growth areas.
  • We delivered our sixth consecutive quarter of solid growth in personal systems, with revenue up 6% above our expectations on 5% unit growth and increased ASPs.
  • We drove commercial revenue up 5% on 3% unit growth, with favorable pricing and a mixed shift toward premium.

Bear points

  • Gross margin was 20.5%, down year over year with a higher mix from personal systems, increased trade-related costs, and unfavorable currency impacts.
  • print revenue declined 4% year-over-year, or 3% in constant currency, with market-driven hardware declines in both consumer and commercial.
  • our leverage ratio remained slightly above our target range.
Read full transcript analysis ›