Posted 11/21/2023, 9:19:52 PM
HP Forecasts Lower Profits Amid Slowing PC Demand, But Sees Growth in AI Computers
- HP forecasts lower than expected Q1 2023 profits due to slow PC market recovery
- Demand for PCs easing from pandemic highs; HP, Lenovo, Dell seeing declines
- HP planning launch of AI PCs in 2H 2023; expects gradual increase in uptake over next few years
- HP maintaining full year 2023 profit outlook despite near-term headwinds
- HP Q4 revenue $13.8B, down slightly vs estimates; weak demand persists in China