Hewlett Packard Enterprise falls amid sector rotation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 29 2024
0mins
Should l Buy HPE?
Source: Investing.com
Hewlett Packard Enterprise Co's stock fell by 5.04% as it crossed below its 5-day SMA, reflecting a shift in market dynamics.
The decline in HPE's stock price is attributed to sector rotation, as investors are moving away from technology stocks in favor of more stable sectors amid mixed market performance. The Nasdaq-100 is down slightly, while the S&P 500 shows modest gains, indicating a divergence in investor sentiment.
This movement suggests that HPE may face continued pressure as the market adjusts, and investors may be cautious about technology stocks in the near term.
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Analyst Views on HPE
Wall Street analysts forecast HPE stock price to rise
16 Analyst Rating
8 Buy
8 Hold
0 Sell
Moderate Buy
Current: 21.970
Low
21.00
Averages
27.13
High
31.00
Current: 21.970
Low
21.00
Averages
27.13
High
31.00
About HPE
Hewlett Packard Enterprise Company is a global technology company focused on developing intelligent solutions that allow customers to capture, analyze and act upon data seamlessly from edge to cloud. Its customers range from small-and-medium-sized businesses to large global enterprises and governmental entities. Its segments include Server, Hybrid Cloud, Networking, Financial Services, and Corporate Investments and Other. Its Server segment offerings consist of general-purpose servers for multi-workload computing, workload-optimized servers, and integrated systems. Its Hybrid Cloud segment offers a range of cloud-native and hybrid solutions across storage, private cloud and the infrastructure software-as-a-service space. The Networking segment develops and sells high-performance networking and security products and services. Its Financial Services segment provides flexible investment solutions, such as leasing, financing, IT consumption, utility programs, and asset management services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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