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Hewlett-Packard Company Message Board

  • longtimefollower longtimefollower Oct 4, 2012 1:44 AM Flag

    Selling at little more than 4x FY 2013 adjusted earnings?

    That seems crazy cheap to me....assuming they achieve the $3.50 figure.

    $15 has been a great historic support level, going back many years.

    Sentiment: Buy

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    • they have huge debt and declining margins in very tough businesses. maybe cheap, not crazy cheap though. Total net debt is about $10 per share.

    • longtimefollower:

      After a long time, our paths cross again!

      I too am intrigued by HPQ. I am still trying to figure it out, and wanted to add some of my thoughts.

      I frequently sell and work with HP gear...

      A). HP consumer grade computers are generally not quality pieces of equipment. They are below average in build quality and have terrible resale rates.

      B). HP servers are generally well regarded. ABOVE AVERAGE build quality, good resale value.

      C). HP printers are average to above average.

      D). HP networking gear used to be average, but has now collapsed.

      ******************

      A). Meg Whitman is a terrible choice and is a terrible CEO, I have no faith in her ability to turn this company around.
      B). She should have been fired a long time ago.

      ******************
      A). HP's acquisitions have been terrible mistakes. They would have been better off setting money on fire. Or maybe even paying a bigger dividend to shareholders. Management has PROVEN they have NO ABILITY to allocate capital above maintenance levels.

      B). HP has a negative book value once you remove intangibles & goodwill.

      C). Jeff Mathews claims HP has now never made any money. The size of HP's charge offs has exceeded ALL of their retained earnings, FOREVER. This alone should lead to the firing of ALL upper level executives.

      *****************

      A). Employee moral has got to be bottom of the barrel. They know HUGE layoffs are coming, just don't know when. How is HP going to retain quality employees?

      B). HP has no "smart phones", they have no tablets. This is going to be the "wave of the future". They've got NOTHING. There is a strong possibility that they will waste even more money like they did with PALM.

      There are going to be HUGE writeoffs coming in the future.

      If they make money this upcoming year, what about next?

 
HPQ
31.93-0.56(-1.72%)Apr 17 4:01 PMEDT

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