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HPQ - HP Stock Technical and Fundamental Analysis

NYSE:HPQ   HP Inc.
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.

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