With the pandemic easing and more 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 the HP Inc.has a different point of 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 so they can work from anywhere. .
HP recently posted strong profits, unlike rival Dell (Dell) – Get Dell Technologies Inc Class C Reportwho have suffered from supply chain issues.
Asked about Dell’s supply chain issues, Lores said only HP’s printing division was affected this quarter because the company was proactive in handling issues before they arose.
On Real Money Pro, technical analyst Bruce Kamich said the charts are unclear to HP.
“Prices reached our price target of $39 in January, but have since made a February high and low,” Kamich noted. “HPQ looks like it could correct lower in the coming weeks. Avoid the long side for now,” he added.
HP remains committed to its shareholders, Lores told Cramer. The company pledged a $4 billion share buyback in 2022 and completed $1.5 billion in share buybacks 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 business products and services.
