Technical Analysis - Hold Before buying - There are some concerns around the Printing Business (Loss of 19%) Prices are moving inside a channel, wait to check if the support will be tested again before buying.
Fundamental Analysis There was good news for HP (ticker: HPQ) in PCs, with flat revenues in notebooks year over year. But the printing business was badly hurt by the wholesale shutdown of offices, with revenues down 19%, including a 31% decline in commercial hardware and a 15% drop in printer supplies. The company expects continued weakness in printers and supplies in the July quarter.
From a fundamental point of view, there is an emerging concern that HP’s printer business simply won’t recover to pre-Covid levels in an environment when many workers spend less time (or no time) working from offices. With fewer workers in the office, there will be less need for printers and printing supplies.
However they may need to have home printers to work at home. So that may actually take up most of the slack. Instead of 10-15 sharing a printer at work they may need to have one at home even if it for infrequent use when you need one......I and my significant other work at home we each have our own printer that remains on standby most of the time. However, we both have brother printers :^))