HP Inc. (HPQ)
From a technical perspective, initial support is located at the 3-box reversal level of $25.89, followed by additional support at $24.89 and $21.24. Resistance is identified at $29.74 and $34.16, with Point & Figure measured-move methodology indicating a potential longer-term objective of $36.98. HPQ’s latest Point & Figure signal is a High Pole Warning, suggesting that the stock’s strong advance has encountered some near-term selling pressure and warrants closer monitoring, even as its broader relative-strength position remains favourable.
HP operates through its Personal Systems and Printing businesses, with its current outlook shaped by the Windows 10 replacement cycle, rising adoption of AI-capable PCs, and pressure from higher memory-component costs. Second-quarter fiscal 2026 revenue increased 9% year over year to $14.4 billion, while non-GAAP earnings reached $0.86 per share and AI PCs represented 44% of shipments. Management expects that mix to increase to 60%–70% in fiscal 2027, while a restructuring program targeting approximately $1 billion in gross annualized savings is intended to support profitability. However, the ongoing CEO search, anticipated second-half margin pressure, tariff exposure, and weakening relative strength within the Neutral-ranked Computer Hardware sector, which has fallen 10 positions over the past quarter to 14th of 31 sectors, remain important considerations.
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