HPQ Stock Forecast: Why You Should Hold HP Inc Stock
The article was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First.
Summary:
- The COVID-19 pandemic is obviously a tailwind for most companies. HP Inc. is obviously go to trade sideways below $20 for a long time.
- HP Inc. will report its Q2 2020 earnings later today. Our HPQ stock forecast most likely predicts a drop even with an EPS and revenue beat.
- The -12.3% decline in Q1 was due to the COVID-19 global pandemic. This was because of shuttered Chinese factories during February-March period.
- PC sales will still suffer year-over-year declines for most of this year. Many companies are retrenching employees instead of adopting work-from-home.
- The COVID-19 pandemic is also a big headwind for HP’s printing business.