With its fiscal third-quarter earnings slated for after the close Thursday, Hewlett-Packard (HPQ) saw its price target cut by at least two brokerages Wednesday, and the tech giant’s stock was down for the sixth day in the past seven trading days, hitting a seven-month low. HP stock was down more than 2% in afternoon trading in the stock market today , below 28. One cut came from RBC Capital Markets analyst Amit Daryanani, who lowered his price
Hewlett-Packard (HPQ) has posted year-over-year sales declines in 14 of the past 15 quarters, but instead of getting closer to gains analysts expect the drop picked up steam last quarter. Wall Street expects HP — which will soon split into separate PC and enterprise companies — to post revenue of $25.5 billion for its fiscal Q3 ended on or near July 31. That would be down 7.6% from the year-earlier quarter and mark its biggest decline in two
Economic turmoil in China is giving Apple (AAPL) investors a tummy ache, because of the company’s heavy exposure to the country. China accounted for 27% of Apple’s revenue in the June quarter. That compares with about 8% or 9% for IBM (IBM), 7% for Hewlett-Packard (HPQ) and 6% for EMC (EMC), RBC Capital Markets analyst Amit Daryanani said Tuesday. What’s more, China contributed 60% of incremental revenue and 80% of incremental profit in Apple’s