With the pandemic easing and more workers returning to the office, some have declared the end of both the personal computer and the work-from-home movement. Enrique Lores, president and CEO of HP (HPQ) – Get HP Inc. Report, has a different view.
Lores told Jim Cramer on a recent episode of Mad Money that HP is still benefiting from the work-from-home and hybrid economy, as workers need new PCs, printers, and accessories to be able to work from anywhere.
HP recently delivered strong earnings, in contrast to those of rival Dell (DELL) – Get Dell Technologies Inc Class C Report, which were hurt by supply chain issues.
When asked about supply chain issues seen by Dell, Lores said that only HP’s printing division was affected by them this quarter, as the company has been proactive in managing problems before they arise.
On Real Money Pro, technical analyst Bruce Kamich said the charts are unclear for HP.
“Prices reached our $39 price target in January but have since made a lower high and a lower low in February,” Kamich noted “HPQ looks like it can correct lower in the weeks ahead. Avoid the long side for now,” he added.
HP remains committed to its shareholders, Lores told Cramer. The company has promised a $4 billion share buyback in 2022 and they completed $1.5 billion in share repurchases this quarter.
Lores was also bullish on new products, like HP’s foray into gaming peripherals and its continued work in 3D printing technologies that could one day replace single-use plastics.
In 2015 Hewlett-Packard split into two companies: HP Inc., which made personal computers and printers, and Hewlett Packard Enterprise, which provided products and services for businesses.
