HP Inc.: The Fever Dream May Be Reaching An End

Jun. 23, 2021 2:50 PM ETHP Inc. (HPQ)3 Comments
Gary Alexander profile picture
Gary Alexander


  • HP Inc. looks healthier than it has in years, with revenue and earnings growing at double digits y/y.
  • Comps will start to look a lot tougher for HP, however, as we lap the work-from-home lifts stemming from the pandemic last year.
  • A big question is whether the demand strength over the past year is a pull-in of demand, or represents truly sustainable growth.
  • In the meantime, supply chain challenges continue to impair a swath of HP's portfolio. The company has built up inventory as well, likely to guard against future shortages.
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AnthonyRosenberg/iStock Unreleased via Getty Images

HP Inc. (NYSE:HPQ), one of the world's largest makers of PCs, continues to float on clouds. The pandemic-induced tailwinds for computers and other devices seems to be much longer-lasting than analysts had expected, and HP continues

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Gary Alexander profile picture
With combined experience of covering technology companies on Wall Street and working in Silicon Valley, and serving as an outside adviser to several seed-round startups, Gary Alexander has exposure to many of the themes shaping the industry today. He has been a regular contributor on Seeking Alpha since 2017. He has been quoted in many web publications and his articles are syndicated to company pages in popular trading apps like Robinhood.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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