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HP, Inc. - Strong Buy On PC Sales Data

Seeking Alpha logo Seeking Alpha 3 days ago Gary Alexander

IDC reported that PC shipments have risen during the 2017 holiday period for the first time in six years.

The biggest winner is HP, which not only retained its #1 market share but also is estimated to have grown share by ~1%.

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HP's estimated Q4 and FY17 market share is 23.5% and 22.7%, respectively, a point higher than its next largest rival Lenovo.

IDC also estimates that HP's Q4 shipments of 16.6 million grew 8.3% y/y, much faster than the anemic 0.7% growth in the industry.

While shares have risen modestly since the report, HP's stock still hasn't fully priced in the strong results expected to release in mid-February. Shares still trade at ~13x forward P/E.

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