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H-P's (HPQ) security business, overlooked in the midst of its PC, printer, and server woes, is a...

  • Monday, December 19, 2011, 2:32 PM ET
    H-P's (HPQ) security business, overlooked in the midst of its PC, printer, and server woes, is a bastion of strength for the company, asserts ISI's Brian Marshall. Marshall claims the business, bolstered by the ArcSight and 3Com acquisitions, generates $1.5B in sales, is growing at a 30% clip, and has a gross margin of ~80%. Even at a price/sales multiple half that of CHKP, the business would still be worth $10B, he suggests.
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    HP is underappreciated now, and new CEO Meg Whitman is even more underappreciated. A female leader, in tech? Yes, and she will be a good one, as even though she has to sign off on projects developed by others with greater tech knowledge and understanding than she has, she knows marketing and markets well and will eventually make a big difference in how HP is perceived in the tech community as well as by the public.

    Might be too early to buy now, but that is how many stock fortunes are made, buying early.
    19 Dec 2011, 03:04 PM Reply Like
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