HP CEO Meg Whitman delivered a keynote address yesterday at the HP Discover Conference in Frankfurt, Germany. Wikibon Chief Analyst Dave Vellante was in attendance and shared the highlights with Kristin Feledy on the Morning NewsDesk Show. Overall, he said, HP is excited. Despite all the recent turmoil with the Autonomy debacle, write-offs and restructuring, there seems to be a turnaround going on.
Vellante addressed the reality of HP’s situation. He said, “HP is a $120 billion dollar company with a $25 billion dollar market cap. That’s a problem, and Meg Whitman has to fix it.” There’s a big upside, however, in that HP is in good shape financially. Vellante noted that he’s seen other big turnarounds where the companies are losing money, and this is not the case with HP.
In her keynote address, Whitman emphasized that people still want to see HP win and that it’s hard to kill founder’s DNA. Vellante agreed wholeheartedly with both statements. He reiterated how much customers love HP, a major reason being that HP has a very strong customer service ethos.
Vellante sees HP’s strategy as focusing more heavily on the enterprise. He predicted, “I think you’re going to see a renewed emphasis on bringing capabilities to the enterprise that are consumer-like.” Another piece of their strategy is that they are trying to drive Autonomy technology throughout its portfolio. There’s a number of examples where Autonomy, as an asset, is being leveraged by HP. He stated, “Despite all the . . . financial mess, they own the technology and I think they’re working hard to exploit it.” See the entire segment with Kristin Feledy and Dave Vellante on the Morning NewsDesk Show.
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