Technology giant HP Inc. (HPQ - Free Report) rang in the New Year with the launch of its latest array of PCs, displays and accessories at the Consumer Electronics Show (CES) conducted by the Consumer Technology Association.
Reportedly, the new line of consumer and commercial products will provide faster access and enable users to work more securely and access content from everywhere.
Talking at the event, Alex Cho, president, Personal Systems, HP, stated: “As the PC becomes increasingly relevant, HP continues delivering amazing devices, and display and accessory innovations that deliver both performance and lightness, durability and design, and mobility and privacy.”
Let’s Delve Deeper
HP unveiled the first notebook with 5G connectivity in the market. The laptop is the second-generation HP Elite Dragonfly with built-in Tile tracker that sends alerts to users when the device is misplaced or lost. Further, it is the first device to be made with ocean-bound plastic material, having more than 82% of the mechanical parts fashioned out of recycled materials.
Additionally, the company launched a redesigned HP Spectre x360 15, making it its most powerful 15-inch convertible. This Spectre can be powered by up to 10th Gen Intel (INTC - Free Report) Core i7processor with NVIDIA (NVDA - Free Report) GeForce graphics. The device which packs a 15.6-inch 4K OLED display or 4K IPS display promises a battery life of up to 17 hours and nearly three times faster file transfer speed with Wi-Fi 6 connectivity.
Further, for security and privacy purposes, the device comes with the HP Webcam Kill Switch, a dedicated mute mic button, a fingerprint reader, Express VPN and LastPass.
HP also announced the new Envy 32 All-in-One desktop, which is the first all-in-one PC with Nvidia GeForce RTX graphics.
Moreover, two docking displays, namely E24d G4 and E27d G4 Advanced Docking Monitors, were introduced. These also offer Sing Power On so that users can power on or off the display, PC, keyboard and mouse, all with a single button.
What This Holds for HP
HP is making no less effort to boost its business. The company’s strategy to engage in product innovations and differentiation for stabilizing the top line is noteworthy.
Notably, the modern-day staff demands flexibility to work from anywhere. Per the company, 34% U.S. workers would take a pay cut of up to 5% to perform their tasks remotely. HP’s focus to meet the buoyancy in demand for security and mobility is commendable.
The company’s commitment to environmental sustainability by making laptops using ocean-bound plastic is praiseworthy.
We believe, such initiatives of HP will help it maintain its leading position in the market. Per Gartner and IDC, in the third quarter of 2019, the company held the second spot among the worldwide PC vendors, driven by strong growth across key geographies. Notably, it achieved 4.6% growth year over year, marking the second highest level among all PC vendors in shipped units during the quarter, per IDC.
Zacks Rank and Another Key Pick
Currently, HP has a Zacks Rank #2 (Buy). Another top-ranked stock in the broader technology sector is Baidu (BIDU - Free Report) , flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Baidu’s long-term earnings growth rate is currently pegged at 2.3%.
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