Tech Business REcap: Hewlett-Packard Brings PC-Related Stocks DOWN
Shares of Hewlett-Packard Co. (NYSE:HPQ) tumble, and bring other PC-related names along, subsequent to its fiscal third quarter results that included major top-line weakness, in PCs in particular, along with a sobering conference call. Needham created a list of H-P problems which includes the remark that the company is “a PC business struggling to find a place in the new tablet/ultrathin world while fighting off bottom-feeders.” In response, Dell Inc. (NASDAQ:DELL) shares descend to new multi-year lows, compounding the bath the company took on Wednesday from its own earnings statement. Other PC-related names suffering in kind in mid-afternoon trading on Thursday are Microsoft Corporation (NASDAQ:MSFT), Intel Corporation (NASDAQ:INTC), and Advanced Micro Devices, Inc. (NYSE:AMD). With respect to Microsoft, the consumer and enterprise receptions to Windows 8 are now more crucial than ever, but the product has already gotten quite a wide mixture of initial reviews.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.