Why the Market Dipped But HP (HPQ) Gained Today

HP (HPQ) closed at $32.24, up 1.61%, outperforming the S&P 500. The stock has gained 1.8% over the past month while the tech sector gained 6.54%. Analysts expect upcoming earnings of $0.75 per share (down 19.35% YoY) with revenue forecasted at $15.47 billion (up 5.69% YoY). HP holds a Zacks Rank #1 (Strong Buy) rating with a Forward P/E of 9.82, trading at a significant discount to its industry average of 22.