Analyst downgrades HP over mobile concerns | webOS Nation
 
 

Analyst downgrades HP over mobile concerns

by Derek Kessler Sun, 03 Jun 2012 3:06 pm EDT

Analyst downgrades HP over mobile concerns

Shares of HP were down more than 6% on Friday on a day where the Dow Jones Industrial Average was down 2.2%. With no real news to speak of out of Palo Alto, what drove the drop? It was a downgrade of HP's stock by Peter Misek of Jefferies & Co. Misek's been noted a few times in these pages, most notably in March 2010 when he valued Palm's stock at $0.00, and in September of 2011 when he said HP should sell or license webOS to Facebook. Friday brought a note from Jefferies saying that tablets are due to put a major hurting on HP's PC business, and that tablets and smartphones combined are lowering printing demand - something HP's well aware of.

If only HP had a mobile operating system all their own that they could use for a line of smartphones and tablets…

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