On August 27, HP Inc fell 7.93% in pre-market trading, trading at $27.77/share, with turnover of $411,200. The sell-off followed the company's Q3 earnings release after the prior session's close, where results beat expectations but underlying demand metrics alarmed investors.

HP reported fiscal Q3 revenue of $15.7 billion, up approximately 13% year-over-year, with adjusted EPS of $0.83 (including $0.11 per share from tariff refunds). Full-year EPS guidance was raised to $3.19-$3.29, above the FactSet consensus of $3.05. However, while PC segment revenue grew 18%, unit shipments declined 16%, revealing that growth was driven primarily by pricing rather than volume. The CFO stated that H2 PC total addressable market is expected to decline 15%-19% year-over-year, and Q4 revenue will fall below seasonal norms due to commodity-driven price increases. Rising memory and storage costs are expected to further pressure operating margins, particularly in the Personal Systems segment. Morgan Stanley had previously cut its target price from $19 to $17, citing HP's challenging earnings environment.

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