The Technology Stock You Should Stay Away From
While many technology stocks for the past few years have done extremely well, the old-fashioned personal computer (PC) makers have struggled. As the marketplace has shifted—and corporate earnings with it—away from the traditional PC to tablets and smartphones, the old technology stocks that we used to remember fondly have been falling by the wayside.
Hewlett-Packard Company (NYSE/HPQ) is the latest in a line of PC makers to have struggled in growing corporate earnings. The latest news from the company is that its CEO, Margaret Whitman, met with analysts and gave them a disappointing forecast for the company.
While Whitman did state that she has been taking some initiatives to turn the company around, it appears Wall Street was not impressed, as shares plummeted. Two aspects of the company’s new focus will be a narrower product line and an increased focus on corporate customers. Whitman also stated that next year’s corporate earnings will be below current analyst estimates. Read More http://www.investmentcontrarians.com/stock-market/the-technology-stock-you-should-stay-away-from/773/