Hewlett-Packard reports after the bell today. It's doubled in the past six months. Is now the time to get out?
Of the entire Dow Jones Industrial Average, Hewlett-Packard is the best performer. Up nearly 49% in 2013, HP is well above number two Disney (+32.5%) and number three Boeing (+31%). With earnings coming out after the bell today, can the stock keep it up?
Wall Street analysts don’t seem to be too hopeful on the company. They expect revenues for the first quarter to be $28.1 billion, down 8% from the previous year. And, they’re not so cheery about the company’s bottom line, with average estimates of $0.81 per share, $17% less than last year.
Exactly six months ago, the company announced it was taking an $8.8 billion write-down on its $10.3 billion acquisition of the English software company Autonomy, $5 billion of which Hewlett-Packard claimed was due to “accounting irregularities”. The stock hit a 10-year low and has since doubled.
What’s in store for the company and the stock?
We talked numbers with one of the most noted tech analysts around, Brian Marshall of the ISI Group, about the fundamentals of the company and where it’s headed. We then had its charts analyzed by Abigail Doolittle, Technical Strategist at The Seaport Group. They have very different conclusions. To hear their insights and see the charts, watch the video above.