Stock Track | HP Inc Plummets 5.11% Intraday Amid Goldman Sachs Bearish Call and Lowered Profit Guidance
Stock Track
Jun 06
HP Inc's stock fell sharply intraday, declining 5.11% as selling pressure intensified following a series of negative developments.
The decline was triggered by a bearish report from Goldman Sachs, which maintained a negative stance on the stock and cited approximately 35% downside risk. Additionally, HP recently lowered the upper bound of its full-year adjusted earnings per share guidance from $3.20 to $3.10, warning that rising memory costs will continue to compress profit margins. Concerns about demand sustainability also emerged, as approximately 2%-3% of commercial PC revenue was pulled forward into the prior quarter, raising questions about fourth-quarter growth potential.
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