Tiger Brokers

BUZZ-HP expects chip crunch to continue, warns of slump in PC sales; shares fall

Reuters
Feb 25
BUZZ-HP expects chip crunch to continue, warns of slump in PC sales; shares fall

** Shares of PC and printer maker HP Inc HPQ.N down nearly 5% at $17.23 premarket

** Co said on Tuesday it expects volatility in memory chips to persist into next year and forecast a slump in PC shipments

** However, HPQ's first-quarter revenue rose 6.9% YoY to $14.44 billion, beating estimates of $13.94 billion, according to data compiled by LSEG

** J.P. Morgan trims PT on stock to $19 from $21; maintains rating at "neutral"

** Brokerage says that even with better print execution, ongoing revenue declines and unclear personal systems margin recovery limit confidence in FY27 profit improvement

** 19 analysts rate the stock "hold" on average; median PT is $20 - data compiled by LSEG

** HPQ down 18.3% YTD

(Reporting by Akriti Shah in Bengaluru)

((akriti.shah@thomsonreuters.com))

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10