Validea's Top Information Technology Stocks Based On Joel Greenblatt - 9/30/2024
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 30 2024
0mins
Should l Buy HPQ?
Source: NASDAQ.COM
Top Rated IT Stocks: HP Inc. is highly rated (100%) according to Joel Greenblatt's Earnings Yield Investor model, indicating strong fundamentals and valuation, while Cisco Systems has a lower rating (60%), suggesting moderate interest based on its fundamentals.
About Joel Greenblatt and Validea: Joel Greenblatt is known for his "Magic Formula" investment strategy that achieved significant returns, and Validea provides stock analysis based on the strategies of successful investors like Greenblatt.
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Analyst Views on HPQ
Wall Street analysts forecast HPQ stock price to rise
14 Analyst Rating
1 Buy
10 Hold
3 Sell
Hold
Current: 20.860
Low
20.00
Averages
25.30
High
30.00
Current: 20.860
Low
20.00
Averages
25.30
High
30.00
About HPQ
HP Inc. is a global provider of sustainable devices, services and subscriptions for personal computing (PC), printing, three-dimensional (3D) printing, hybrid work, gaming and other related technologies. The Company's segments include Personal Systems, Printing and Corporate Investments. Its Personal Systems segment offers desktops, notebooks, and workstations, thin clients, retail point-of-sale (POS) systems, displays, hybrid systems, software, solutions including endpoint security and services. Its Printing segment provides consumer and commercial printer hardware, supplies, services and solutions. Printing is also focused on graphics and 3D printing and personalization in the commercial and industrial markets. Its Corporate Investments segment includes certain business incubation and investment projects. Its security solutions provide layered resiliency using features such as containment and isolation technology as well as artificial intelligence (AI) deep learning.
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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See More
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- Profitability Improvement: Earnings per share surged 22% to $2.01, exceeding the anticipated $1.95, demonstrating Apple's success in expanding profit margins, which solidifies its position in the high-margin services market.
- Record Active Devices: The installed base of active devices surpassed 2.5 billion for the first time, providing a vast market opportunity for future service sales, especially with the upcoming personalized Siri AI service, enhancing the company's competitive edge.
- Expanded Buyback Program: Apple's board authorized a $100 billion stock buyback program and a 4% increase in cash dividends, reflecting the company's ongoing commitment to capital allocation, which is expected to further enhance shareholder value.
See More
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- Stock Surge: Intel's stock skyrocketed by 114% in April, marking its best monthly performance ever and reaching a new high for the first time since 2000, reflecting strong market confidence in its turnaround strategy.
- Surge in Demand: With a resurgence in AI demand, Intel's central processing unit (CPU) demand exceeds supply, and the CPU market is projected to double by 2030, reinforcing Intel's core position in the AI era.
- Strategic Investment: The U.S. government invested $8.9 billion in Intel through the CHIPS Act, becoming its largest shareholder, with the current stake valued at over $40 billion, highlighting the importance placed on the U.S. semiconductor industry.
- Manufacturing Capability Boost: Intel's new Arizona plant is producing 18A chips, signaling a recovery in its manufacturing capabilities, while its collaboration with Tesla provides new growth opportunities for future chip production.
See More
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- Stock Surge: Intel's stock skyrocketed by 114% in April, pushing its market cap past $470 billion, marking the best month in its 55-year history on Nasdaq and reflecting strong market confidence in its turnaround efforts.
- Performance Recovery: Following a staggering 60% drop in 2024, Intel's stock has nearly quintupled, indicating investor optimism driven by the promising demand for its new 18A chips, particularly as data center CPU demand exceeds supply.
- Strategic Investment: The U.S. government invested $8.9 billion in Intel through the CHIPS Act, becoming its largest shareholder, with the current stake valued at over $40 billion, highlighting the government's commitment to reshaping the semiconductor industry.
- Manufacturing Capability Boost: Intel is set to collaborate with Musk's Terafab in Texas to design and manufacture ultra-high-performance chips, further solidifying its market position in advanced packaging and manufacturing, which is expected to drive significant revenue growth in the future.
See More
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- Controller Innovation: The HyperX Clutch Talon controller features a tool-free customization design, allowing players to adjust settings with interchangeable components like sticks and triggers, thereby enhancing competitiveness and gameplay performance.
- Headset Performance Boost: The HyperX Cloud Stinger 3 headset offers up to 80 hours of battery life, combined with a lightweight design and memory foam ear cushions, ensuring player comfort during extended gaming sessions while delivering immersive audio experiences that enhance gameplay immersion.
- Software Functionality Enhancement: The HyperX NGENUITY software officially launches after extensive testing, providing audio customization, performance tuning, and system-level control, helping players optimize device performance according to personal needs and enhancing the overall gaming experience.
- Market Pricing Strategy: The HyperX Clutch Talon controller is priced at $159.99, while the Cloud Stinger 3 headset starts at $49.99, aiming to attract more players through competitive pricing and further expand market share.
See More
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- Surge in AI Revenue: Broadcom's AI-related revenue has skyrocketed from approximately 15% two years ago to 44% today, with the segment growing 106% year-over-year in the latest quarter, indicating strong demand for custom AI accelerators, and projecting AI revenue to reach $100 billion by 2027.
- Outstanding Financial Performance: The stock has compounded at an annual rate of 39% over the past decade and gained over 140% in the last 12 months, with sales projected to increase by more than 60% this year and earnings expected to climb 68%, showcasing robust performance amid rapid expansion.
- Positive Analyst Sentiment: Earnings estimates for Broadcom have been revised upward by nearly 14% over the past 60 days, with next year's projections up nearly 25%, reflecting analysts' optimism about the company's future growth, supporting its Zacks Rank #1 (Strong Buy) rating.
- Technical Breakout: After nearly nine months of consolidation, Broadcom's stock has broken out from a nested base and is now approaching all-time highs, with a constructive technical setup suggesting that a breakout could lead to testing historical highs, while any short-term pullback may present a secondary entry opportunity.
See More
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- 3D Printing Milestone: At the RAPID + TCT 2026 conference, HP celebrated its 10-year anniversary in 3D printing, announcing the Jet Fusion 5600 series with AI-driven workflow tools that enhance printer output by 20% and reduce operational costs, thereby solidifying its position in higher-margin markets.
- Shareholder Vote Outcome: During the 2026 annual shareholder meeting, HP secured approval for all proposals, including the Fifth Amended and Restated HP Inc. 2004 Stock Incentive Plan, which increases the number of shares available for issuance by 73.6 million, providing greater flexibility for future employee incentives and retention.
- Market Sentiment Shift: HP's shares surged 7.7% on Tuesday, marking its best single-day performance in over a year, reflecting a positive investor response to its new 3D printer launches and shareholder proposals, with retail sentiment shifting from 'neutral' to 'bullish'.
- Competitor Influence: The rise in HP's stock price contrasts with Dell's performance, which has surged approximately 90% since January 20, leading investors to have heightened expectations for HP's future, particularly in light of its new product launches.
See More
