Schaeffer's Top Stock Picks for '25

Hewlett-Packard Stock Soars to Post-Earnings Record High

Hewlett-Packard delivered strong fiscal second-quarter results

Deputy Editor
Jun 5, 2024 at 11:13 AM
facebook X logo linkedin


Shares of Hewlett-Packard Enterprise Co (NYSE:HPE) are soaring to record highs, following the computer hardware name's better-than-expected fiscal second-quarter results and upbeat annual and fiscal third-quarter guidance. Artificial intelligence (AI)-optimized server demand contributed to the results, with at least 10 analysts lifting their price targets today.

At last glance, HPE was up 11.9% to trade at $19.70, after earlier hitting an all-time peak of $20.43. This bull gap to all-time levels has the equity up 16.6% since the start of the year. 

Naturally, the stock is one of the most popular in the options pits today. So far, HPE has seen 100,000 calls and 49,000 exchanged, which is already 13  times its overall average daily options volume. The August 17 put is the most popular contract, with new positions being bought to open there. 

Of the 13 analysts in coverage, 11 still carry a "hold" rating despite the stock's outperformance. At this point, however, brokerages could be of the mind that HPE's potential tailwinds have already been factored into the price. Bernstein's covering analyst suggested HPE and Dell Technologies could have "very strong shipments over the next quarter or two as they deliver on backlog," depending on if customers would be willing to take deliveries earlier. 

 
 

Which of These SUB-$5 Stocks Could 26x From Here? (AD)

He called a rare 11x on Tesla…

Then he called a 26x on Workhorse…

Then an even rarer 35x on Nio Inc…

Now Tim Bohen says these 5 tiny “America First” stocks are next up in 2025.

They’re trading for less than $5 right now.

But thanks to Elon & Trump’s new alliance…

They could be off to the races in Trump’s first 100 days.

And right now for a limited time…

You can get the names & tickers for just $1 here. (AD)

10 Stock Picks FREE
 
 

Featured Articles from Trusted Partners:

🚀 One Stock Pick Could Change Everything in 2025
What if one stock pick could define your success next year? Get 10 expert-vetted stocks set for 2025—plus 5 bonus picks to watch now. Get the Report →

🆕 New Options Need New Trading Strategies
Zero-DTE options are the newest (and hottest) options to trade.  Professional traders have rushed into the market and are making a mint.  Don’t get left behind - learn all about these options, how to trade them, market setups to profit from, plus much more. Download now →

👀 Revealed: 3 Defensive Stocks for Your Portfolio
Worried about the market? This free report reveals 3 under-the-radar defensive stocks for uncertain times in any kind of economy.

 

 
 

FREE Report Download

 

Follow us on X, Follow us on Twitter