HP and Dell earnings offer clues on when PC woes may stop hurting our chip stocks

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Investing Club: HP and Dell earnings offer clues on when PC woes may stop hurting our chip stocks

Quarterly earnings reports this week from HP Inc. and Dell Technologies offer clues on when the struggling PC market may turn around — and a solid read-through to our chipmakers such as Advanced Micro Devices . HP Inc. HP makes computers — both laptops and desktops — that contain processors designed by AMD, Club holding Nvidia , and Intel The Club does not own Intel. HP on Tuesday night posted better-than-expected earnings per share and sales for its fiscal fourth quarter, which ended Oct. 31.

" However, while inventory levels came down in the third quarter, the company said it will take "a few more quarters" to continue to normalize. That's our key takeaway with Dell. Before we get there, though, Dell continues to see weakness in the current quarter. CFO Thomas Sweet said on the call PC revenue is likely be down in the mid-20% range on a year-over-year basis.

 

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