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Despite last year's corporate spy scandal and the looming possibility of a U.S. slowdown, Hewlett Packard isn't struggling like its rival Dell. HP is up 52% since Barron's last plug in April 2006. It had a phenomenal FQ3, and has reiterated full year guidance. Analysts predict a 13% y/y EPS rise to $2.87, on $103.3 billion in revenues -- 32% more than 2006. HP CEO Mark Hurd is committed to a 4-6% annual revenue growth and sees no slowdown on the horizon. Aside from its successful core computer/printer business, HP has a good macro-economic vantage point because of its diverse corporate/government/consumer client base and its wide variety of products. Hurd does fear that the subprime media frenzy could baselessly discourage consumers. However, with 65% of its revenues coming from overseas, the global conglomerate is relatively immune. Growth is expected from recent enterprise software company acquisitions and HP's successful printer business. HP also plans to unveil new PCs, laptops and computer games this Wednesday. This apparently rattled Apple enough that it scheduled its own product launch that day (full story). Hurd says HP's innovation is ingrained, and its "best days are ahead of it."

Sources: Barron's
Commentary: HP Q3 Net Up 29%, Beats StreetRising PC Component Prices Could Affect Apple, Dell, HPDell: Stick A Fork In It
Stocks/ETFs to watch: HPQ, AAPL, DELL

Source: HP is Programmed For Growth -- Barron's