By Daniel Kobialka
Citigroup analyst Jim Suva is one of several technology market experts who anticipates Hewlett-Packard will boost its profits in the near future. According to CNBC, HP’s shares climbed 30% in the last 12 months, a positive sign for the company.
Meanwhile, a new chief information officer survey indicates that increased corporate spending on HP services could take place soon. Corporate spending, which makes up about one-fifth of HP’s sales, may allow the business to further increase its profits over the next few years.
According to The Associated Press, HP recently added several new team members as well. This company appointed former McDonald’s chief executive officer Jim Skinner along with two others to leadership roles.
With the new appointments, HP’s board of directors increased from nine members to 12. While HP has been struggling due to declining PC sales, the future appears bright for this technology provider and many others around the globe.
As the international economy improves after the recession of the late 2000s, HP could benefit. While HP originally was slow to respond to the shift from PCs to mobile devices, struggling to catch up with Apple and other manufacturers, this company may reap the rewards of recent technology investments and could watch its revenue increase exponentially as a result.