Hp today predicted a stronger-than-expected full-year profit forecast and preliminary results, saying it was benefiting from its global reach, diverse customer base and cost cuts.
HP, which is now the world’s largest Technology company, beating IBM last year in revenue, and PC manufacturer, had its shares Jump up 14% in pre-market trading.
The initial fears within the market that of the sales of PC and consumer electronics was going to slump after this economic meltdown was then being rejected by HP officials.
The threat of a consumer pullback is real and present. It’s unlikely that companies large and small can sidestep the structural weakness on the consumer side, said Ashok Kumar, A finance analyst.But those with a broader portfolio — like Hewlett-Packard and IBM — will be able to weather the storm better than the likes of Dell,Kumar said.
