On May 29, HP rose 9.08% in regular trading, trading at $27.24/share, with trading volume of $89.27 million. The surge was driven by strong fiscal Q2 results and multiple analyst upgrades.

HP reported adjusted EPS of $0.86 for fiscal Q2, significantly exceeding the consensus estimate of $0.71. Revenue came in at $14.4 billion, up 9.2% year-over-year, also surpassing analyst expectations of $13.99 billion. AI PC penetration emerged as a core highlight, with approximately one-third of HP's PC shipments during the quarter being AI-capable models, demonstrating strong momentum in the AI personal computing space. Additionally, JPMorgan raised its target price from $22 to $26, while Citi lifted its target from $20 to $25, further boosting market confidence.

However, HP's CFO cautioned that rising input costs, particularly memory chip prices, are expected to pressure operating margins, especially in the Personal Systems segment. The company also narrowed its full-year adjusted EPS guidance to $2.90–$3.10, lowering the upper bound. Morgan Stanley noted that while Q2 results were better than feared, uncertainties including price elasticity remain.

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