On September 21, HP Inc fell 5.84% in pre-market trading, trading at $32.39/share, with turnover of approximately $3.82 million. The decline was triggered by a regulatory filing that raised fresh concerns over the company's near-term outlook.

According to a document submitted to the U.S. Securities and Exchange Commission, HP explicitly stated it will not provide financial guidance for fiscal year 2027. The company further disclosed that, based on third-party industry forecasts, it expects global PC shipment volumes in calendar year 2027 to decline by a mid-single-digit percentage compared to 2026. HP noted that this planning assumption depends on second-half 2026 market performance and remains subject to revision given ongoing market uncertainties.

The filing compounds existing investor concerns. HP's most recent Q3 earnings showed revenue grew approximately 13% year-over-year to $15.7 billion and full-year adjusted EPS guidance was raised to $3.19–$3.29, surpassing the FactSet consensus of $3.05. However, PC unit shipments fell 16% in Q3, with revenue growth driven primarily by pricing rather than volume. Personal Systems operating margin dropped to 4.6% amid rising memory and storage costs. Management has indicated margin recovery would begin in FY2027, but the refusal to issue forward guidance now casts doubt on the pace of that recovery.

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