HPQ stock forecast, quote, news & analysis

Key Takeaways

• HP Inc. (HPQ) closed at $29.71 on August 21, 2026, up roughly 18% from about $25.10 roughly 30 calendar days earlier.
• The advance extends a broader 2026 uptrend, with the shares up about 19% over the trailing three months.
• Sector-wide momentum — including record results from PC rival Lenovo and accelerating AI-PC demand — lifted HP and other hardware names.
• The Windows 11 refresh cycle and rising AI-capable PC adoption remain the primary demand drivers.
• Rising memory chip costs and a pending CEO appointment are key risks ahead of HP's fiscal Q3 report on August 26.

HP Inc. (HPQ) Company Overview and Market Position

HP Inc., headquartered in Palo Alto, California, is one of the world's largest makers of personal computers and printing systems. Created in 2015 when Hewlett-Packard separated its enterprise-infrastructure business into Hewlett Packard Enterprise (HPE), HP concentrates on two core segments: Personal Systems, which includes notebooks, desktops, workstations, and gaming devices, and Printing, which covers printers, supplies, and related services. The company generates roughly two-thirds of its revenue outside the United States, is led by interim CEO Bruce Broussard and CFO Karen Parkhill, and carries a market capitalization near $27 billion with a dividend yield around 4%. Investors follow HPQ closely for its exposure to the PC refresh cycle, AI-PC adoption, and its consistent shareholder-return program.

HP Inc. (HPQ) Stock Price Performance: Last 30 Days vs. Quarter

Over the last 30 days, HPQ has risen about 18%, climbing from a close of $25.10 on July 22, 2026, to $29.71 on August 21. The advance was not a straight line: shares jumped in late July, pulled back in early August, surged to a 52-week intraday high of $32.19 on August 13, and then eased into the low $29 range.

The quarterly picture tells a similar but more volatile story. Over the trailing three months, the stock has gained roughly 19%. After a post-earnings spike to about $29.34 in early June, shares retreated into the low $20s by late June before recovering through July and rallying again in August. The longer-term trend is decisively higher, with the stock well above its February 2026 52-week low of $17.56.

What Drove HPQ Stock Price in the Last 30 Days

Several factors powered HPQ's recent advance. The most prominent was a broad rally in PC hardware names after Lenovo reported record quarterly results on August 13, with revenue of $26.94 billion, up 43% year over year. The read-through for PC demand lifted sentiment across the sector, and HPQ rose roughly 7% that day, with Dell (DELL) also gaining.

Around the same time, Morgan Stanley published a note arguing that IT hardware companies stand to benefit from what it called "chipflation" — rising memory prices that are prompting enterprises to accelerate PC and server purchases rather than delay them. That thesis helped reinforce investor interest in HP and its peers. Underpinning the move were durable fundamentals: the ongoing Windows 11 refresh cycle, tied to the end of Windows 10 support, and rising adoption of AI-capable PCs. Investors also positioned ahead of HP's fiscal third-quarter earnings report scheduled for August 26.

What Drove HPQ Stock Performance Over the Last Quarter

The quarterly narrative centers on HP's fiscal second-quarter results reported May 27. Revenue rose 9% to $14.4 billion — an eighth straight quarter of top-line growth — and non-GAAP earnings per share of $0.86 comfortably beat the $0.71 consensus. AI-capable PCs climbed to 44% of shipment mix, up from 35% the prior quarter. However, HP trimmed the top end of its full-year EPS guidance to a range of $2.90 to $3.10, citing rising memory and storage costs.

The broader multi-month trend reflects a balancing act between strong AI-PC demand and component-cost inflation. A memory chip shortage, driven by data-center demand, has pushed up PC component prices, pressuring margins. Management has responded with product reconfiguration, supplier diversification, and pricing actions. Separately, the company is operating under an interim CEO while it conducts a search for a permanent successor, an overhang investors continue to monitor.

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HPQ Stock Forecast Drivers: What Investors Should Watch Next

Looking ahead, the most important near-term catalyst is HP's fiscal third-quarter earnings report on August 26, with consensus expectations near $14.60 billion in revenue and adjusted EPS around $0.66. Investors will focus on the trajectory of memory and storage costs and their impact on margins, as well as any update on the AI-PC mix, which management expects to reach 60% to 70% of shipments in the next fiscal year and more than 70% by fiscal 2028.

Other factors to monitor include the pace of the Windows 11 refresh, commodity and transportation cost inflation, and the appointment of a permanent CEO. Analyst sentiment remains cautious: the consensus rating is a Hold, with an average 12-month price target below the current share price, reflecting concerns about margin pressure and valuation. Macroeconomic conditions, trade policy, and competitive dynamics from Lenovo (LNVGY) and Dell will also shape the stock's path.

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