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Best Day In Three Years On Wall Street For HP

Hewlett-Packard (HP) has had its most successful day on Wall Street in three years, on Thursday, last week. Reports have showed an increased market share in the Palo Alto company's personal-computer business, due to a growth in global shipments.

In the first three months of this year, HP remained the Number 1 manufacturer of PC's in the world - due to a 6.6 per cent growth in shipments, according to analysis firm Gartner. On the best day for three years, HP controlled 17.2 per cent of the market. The company was boasting 16.9 per cent in the same quarter, of the previous year. According to Gartner, HP also gained 1.9 per cent overall in worldwide PC shipments, since the same period in 2011.

HP suffered a hard-drive shortage last year due to major flooding in Thailand, but investors are using these reports as proof that the company is firmly back on track. HP stock value increased dramatically by 7.2 per cent - the greatest percentage gain in a single day, since 23 March 2009 for the company.

"History has shown that periods of slower growth are followed by recovery as improving technologies make replacements as well was new purchases increasing compelling", Loren Locerde, an IDC official, said in a statement concerning the group's report. "As a result, we expect PC shipments to pick up significantly by the fourth quarter."

Source: Mercury News (opens in new tab)