We reiterate our Outperform rating on HP.
On April 5, HP (ticker: HPQ) shipped more than 54 SKUs of new A3 multifunction printers to more than 80 countries world-wide. The company signed and on-boarded more than 500 resellers world-wide for the A3 opportunity with roughly 40% new to HP.
We think the latter reflects the potential value proposition to the channel and believe the product portfolio should further strengthen following the close of Samsung acquisition (expected to close before September). According to Gartner, HP had only 3.7% share of the $25.3 billion hardware market in 2016 (while the total market opportunity read the rest here