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Goldman Sachs downgrades HP
- USA: Wednesday, April 03 - 2013 at 05:57
Goldman Sachs has downgraded the shares of Hewlett-Packard amid a continuing slump in personal computer sales, despite cost cutting efforts by Meg Whitman, the fourth CEO in three years and rebounding demand for enterprise services, Bloomberg has reported. "Sentiment has moved ahead of reality," Bill Shope, an analyst at Goldman Sachs, wrote in a research report. "The current restructuring actions will be largely countered by incremental weakness in PCs, enterprise hardware, services and printing in fiscal 2013," Shope said. Global PC shipments may fall 1.3% to 345.8 million units this year, from 350.4 million in 2012, researcher IDC said in March. Last year, shipments declined 3.7%.
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