In a recent interview with CNBC’s Jim Cramer on Tuesday, HP Inc’s Chief Executive Officer Enrique Lores expressed confidence in the potential impact of their new computers integrated with artificial intelligence capabilities on the growth and acceleration of the PC market.
Lores underscored the significance of PCs with AI features in propelling industry momentum, foreseeing a gradual uptick in 2024 followed by continued expansion in 2025. He highlighted the ease of access to advanced functionalities such as sky exploration and localized language model analysis directly from the PCs.
Additionally, Lores assured that the incorporation of these cutting-edge technologies would not result in a substantial price hike, with an estimated modest price increase ranging from 5% to 10% compared to current models.
The CEO also acknowledged the positive trajectory of the computer industry’s recovery, attributing part of the growth to the shift from Windows 10 to Windows 11, which is expected to further drive expansion.
With optimistic expectations for 2024 compared to 2023, Lores anticipated a significant resurgence in the computer sector, pointing to a stronger performance in the latter part of the year.
Following the release of the earnings report after the market’s closure on Tuesday, HP Inc revealed a slightly lower monthly revenue than projected by LSEG but maintained a favorable quarterly earnings outlook. Consequently, HP’s stocks witnessed a decline of over 3% in after-hours trading.
