HP Inc (HPQ) Introduces Multiple Products At CES, Las Vegas

Technology giant HP Inc. HPQ ushered in the New Year with the launch of latest ultrabooks, PCs and notebooks at CES 2017. It is an annual technology tradeshow conducted by the Consumer Technology Association every year in January in Las Vegas. The latest additions will provide faster web access, have increased durability and larger displays.

The company’s latest offering includes the Spectre 13 – the thinnest and most powerful iteration of laptops – that are anticipated to enhance the web experience and provide high-quality visuals. Powered by Intel Inc.’s INTC i5 or i7 processors, the ultra-portable gadget is expected to improve user experience through better connectivity.

The ultrabook has huge file storage capacity with solid state drive options and provides 3D graphics. It has been designed to make data center handling simpler, more flexible, efficient and cost effective. Though the ultrabook is a high-end product, it is suitable for both consumer and corporate purposes. HP’s Spectre 13 could challenge Apple's AAPL laptop in the rapidly growing market for ultra-portable computers. The new Ultrabook runs on Microsoft Corp.’s MSFT Windows 10.

Other Launches at the Event

Notably, the company rolled out five new products last week at CES 2017. The offerings include the HP EliteBook x360, Spectre x360, ENVY Curved All-in-One 34, Sprout Pro and OMEN X 35 Curved Display that has a high-definition (HD) screen which can be easily connected to other devices. The company claims that these products are the world's slimmest full performance notebook PCs, which are likely to offer the ideal combination of enhanced performance, mobility and price.

HP Elite products cater to the current demand for ultra-thin, ultra-light, power efficient mobile products that are suitable for a bring-your-own-device (BYOD) environment. Hence, these products should help the company hold its own in the sluggish PC market.

The slimmest among the Elite family, the models will be available from January. These products will enhance web experience and provide high-quality visuals. Moreover, the new line-up will add variety and functionality to some older notebooks and desktops, which in turn, will attract new clients.

Conclusion

HP’s efforts to turn around the business have been commendable. The company has adopted a strategy of engaging in product innovations and differentiation as well as enhancing the printing business’ capabilities to stabilize the top line.

Furthermore, looking at the data compiled by two independent research firms – Gartner and International Data Corporation – we believe that the downtrend in PC shipments moderated in third-quarter 2016, compared with the previous quarters.

Notably, for HP, this was the second consecutive quarter of year-over-year shipment growth following five back-to-back quarters of underperformance. The company witnessed a 2.3% increase in PC shipments. We believe that the spin-off from Hewlett-Packard Company and restructuring initiatives, such as focus on product innovations, pricing, marketing and sales activities, divestment of non-core assets, and job cuts to lower costs, are finally paying off.

The stock has gained approximately 40.8% over the last one year, outperforming the Zacks categorized Computer-Mini Computers industry’s return of 20.7%.

Currently, HP carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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