(Bloomberg) -- HP Inc. shares dropped as much as 4.7%, the most intraday in six weeks, amid concerns about a potential for ebbing demand and amid ongoing supply shortages, analysts say.
- Last week, research firm IDC data showed global PC shipments grew 55% in the first quarter of 2021 from the same period the prior year, a pace that analysts suspect may difficult to maintain; and separately, an Evercore analyst writes that demand-side data showed mixed signals
- “While demand potential in the commercial segment appears strong, early indicators may suggest consumer demand has begun to slow somewhat as spending priorities shift post-a year of aggressive PC buying,” said Evercore analyst Amit Daryanani
- “With supply constraints limiting production, rising inventory levels could also signal slowing PC demand in the consumer and education markets, which have been strong for the past year,” said Morgan Stanley analyst Katy Huberty
- HPQ trading in options rising to more than three times the 20-day average for this time of day
- HPQ has 8 buys, 5 holds, 4 sells; avg. $33: Bloomberg data
©2021 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
