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Hewlett Packard (HPE) Partners NREL to Build Supercomputer
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Hewlett Packard Enterprise (HPE - Free Report) is cashing in on the rapid adoption of supercomputing systems, which is expected to be a key growth driver for the company.
Per Technavio, the global supercomputer market is anticipated to witness a CAGR of around 9% during the period between 2018 and 2022.
The company’s recent collaboration with National Renewable Energy Laboratory (“NREL”) to build a supercomputer to enhance energy efficiency in the latter’s existing system, testifies to this growth strategy. Hewlett Packard has been associated with the Department of Energy (“DOE”) for a long time, and the new project is part of it. The company provides advanced supercomputing and high performance computing solutions to the DOE to aid research across its agencies.
Rising operating costs and pollution levels related to higher energy consumption is a major concern for the industry currently. With the new system, Eagle, HPE aims to aid NREL’s energy-saving project.
This initiative is part of Hewlett Packard’s focus on its Hybrid IT segment, which was formed and started to operate in the fiscal 2018. It has been trying to concentrate more on high margin hybrid IT models that leverage on-premises and cloud computing power.
The company’s efforts toward expanding its footprint in the hybrid IT models were first seen when it acquired Silicon Graphics in 2016.
Per Gartner, worldwide IT spending is expected to reach $3.85 trillion in 2019, driven majorly by technology trends like Internet of Things, big data, artificial intelligence (AI) and blockchain. Hewlett Packard, with its expertise across these domains and restructuring initiatives to boost these segments, is well-positioned to maintain its stronghold in the market.
Long-term earnings growth for Virtusa, Qualys and Fortinet is projected to be 20%, 8% and 16.8%, respectively.
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Hewlett Packard (HPE) Partners NREL to Build Supercomputer
Hewlett Packard Enterprise (HPE - Free Report) is cashing in on the rapid adoption of supercomputing systems, which is expected to be a key growth driver for the company.
Per Technavio, the global supercomputer market is anticipated to witness a CAGR of around 9% during the period between 2018 and 2022.
The company’s recent collaboration with National Renewable Energy Laboratory (“NREL”) to build a supercomputer to enhance energy efficiency in the latter’s existing system, testifies to this growth strategy. Hewlett Packard has been associated with the Department of Energy (“DOE”) for a long time, and the new project is part of it. The company provides advanced supercomputing and high performance computing solutions to the DOE to aid research across its agencies.
Rising operating costs and pollution levels related to higher energy consumption is a major concern for the industry currently. With the new system, Eagle, HPE aims to aid NREL’s energy-saving project.
Hewlett Packard Enterprise Company Revenue (TTM)
Hewlett Packard Enterprise Company Revenue (TTM) | Hewlett Packard Enterprise Company Quote
Growth Driving Strategies
This initiative is part of Hewlett Packard’s focus on its Hybrid IT segment, which was formed and started to operate in the fiscal 2018. It has been trying to concentrate more on high margin hybrid IT models that leverage on-premises and cloud computing power.
The company’s efforts toward expanding its footprint in the hybrid IT models were first seen when it acquired Silicon Graphics in 2016.
Per Gartner, worldwide IT spending is expected to reach $3.85 trillion in 2019, driven majorly by technology trends like Internet of Things, big data, artificial intelligence (AI) and blockchain. Hewlett Packard, with its expertise across these domains and restructuring initiatives to boost these segments, is well-positioned to maintain its stronghold in the market.
Collaborations Enhance Hewlett Packard’s Prospects
Hewlett Packard is set to architect a next-generation supercomputer for Ecole Polytechnique Fédérale de Lausanne’s initiative, the Blue Brain Project.
In April, the company collaborated with KU Leuven to develop a new supercomputer, specifically built to run AI workloads.
The company also recently partnered with Sandia National Laboratories and the DOE to build the “world's largest ARM-Based supercomputer”, Astra.
Zacks Rank and Stocks to Consider
Hewlett Packard currently carries a Zacks Rank #3 (Hold).
Few other better-ranked stocks in the broader Computer and Technology sector are Virtusa Corporation , Qualys, Inc. (QLYS - Free Report) and Fortinet, Inc. (FTNT - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth for Virtusa, Qualys and Fortinet is projected to be 20%, 8% and 16.8%, respectively.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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