You can expect the bottom to drop out of PCs anytime soon. HP's brand value in that space is zero. No respect.
Printers are low demand. No one cares anymore, they just print a few pages a month.
EDS services reputation has caught up with them. They have nothing for the new world, all they know is how to load up people on an account. Their delivery record is abysmal.
Enterprise storage has moved away from block devices toward network storage, where HP has no advantage.
HPUX due to Oracle is dead.
That leaves the Intel server line, respectable, but not a $100,000,000,000 a year business. Many competitors too.