Lores said PCs are essential tools for our new work-from-home economy, and HP is seeing a transition from one PC per home to one PC per person for many families.
HP remains committed to returning cash to their shareholders, Lores added, which is why the company increased their share buyback program during the quarter.
Let's check out the charts and technical indicators.
In the daily bar chart of HPQ, below, we can see that prices have been slowly recovering from their February-March decline. Prices are above the rising 50-day moving average line and recently above the bottoming 200-day moving average line.
The On-Balance-Volume (OBV) line has been improving since early April but has leveled off in August telling me that buyers and sellers of HPQ may have moved to a balanced position after showing more aggressive buying for four months.
The trend-following Moving Average Convergence Divergence (MACD) is above the zero line telling us that prices are in an uptrend but it certainly is not showing us much in the way of trend strength.