11 Best Computer Hardware Stocks to Invest in Right Now

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6. HP Inc. (NYSE:HPQ)

Number of Hedge Fund Holders: 42

HP Inc. (NYSE:HPQ) is a leading computer hardware stock to invest in right now. The company focuses on personal computers and printing technology operating through three main segments Personal Systems, Printing, and Corporate Investment.

The company has been making significant strides in improving its Personal Systems segment, which accounted for around 68% of the total revenue during the fiscal fourth quarter of 2024. The segment revenue improved 2.1% year-over-year to reach $9.59 billion, driven by a revival in commercial units sold on the back of development in its AI PCs. HP Inc. (NYSE:HPQ) announced a series of breakthroughs in enhancing AI within its systems. For instance, its PC portfolio is now equipped with AI companions that help analyze private files, create content, and quickly respond to various tasks. Moreover, during the prior quarter, the company had launched the most powerful next-gen AI business notebook, EliteBook, powered by 55 TOPS of NPU performance.

HP Inc. (NYSE:HPQ) remains an interesting opportunity due to its AI PC line-up. According to a report by IDC, generative AI PC sales are expected to grow by around 234% by 2027. This revival in international PC shipments will help the company generate extensive gains as during the latest quarter PCs already accounted for more than 15% of its total shipments.

Greenlight Capital stated the following regarding HP Inc. (NYSE:HPQ) in its Q2 2024 investor letter:

“In addition to gold, we had four material winners in our long portfolio this quarter. HP Inc. (NYSE:HPQ) jumped from $30.22 to $35.02. After seven quarters of declines, PC sales turned marginally positive during the quarter. The industry appears to be in the early stages of an upcycle, perhaps to be enhanced by recently launched AI-enabled PCs that are expected to ramp up over the next several quarters.”

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