Hewlett-Packard Hedges on "Growth Pledge," Investors Rejoice
Oct 12th 2013 10:00AM
Updated Oct 12th 2013 10:02AM
Hewlett-Packard held its annual securities analyst meeting on Wednesday. Hewlett-Packard CEO Meg Whitman seemed optimistic, albeit cautiously so. The CEO appeared to contradict her earlier "growth in 2014" pledge, now stating "she expects that revenue will stabilize in the coming year."
However, as cautious as Hewlett-Packard's management is about the turnaround, investors are anything but. Hewlett-Packard shares surged almost 10% that day and are up nearly 50% year to date. Are Hewlett-Packard investors correct in piling in this stock, or has the price gotten ahead of it fundamentals?
Also, Meg Whitman sounded off the relationship with Microsoft , stating, "Current partners like Intel and Microsoft are turning from partners to outright competitors." As Microsoft transitions to a "devices and services" company with the purchase of Nokia's handset business and its commitment to the Surface line of tablets, what should investors look for going forward?
In today's segment of Tech Teardown, Quick Minute, Jamal Carnette gives you a quick overview of Hewlett-Packard's analyst meeting and the souring relationship with Microsoft.
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The article Hewlett-Packard Hedges on "Growth Pledge," Investors Rejoice originally appeared on Fool.com.Jamal Carnette has no position in any stocks mentioned. The Motley Fool owns shares of Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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