With Hewlett-Packard (NYSE:HPQ) shares up almost 100% from the November 2012 lows, it seems pretty clear that Wall Street has bought into the company's plans to cut costs and enhance free cash flow (FCF). Moreover, investors are clearly happy to see HP emerge as one of the very few tech companies to not only meet (or exceed) estimates but actually raise guidance for the next quarter. While that's certainly all positive, HP still has significant issues with competitiveness that must be favorably resolved before the true underlying value in these shares comes to fruition.
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http://www.investopedia.com/stock-analysis/052313/cost-improvements-are-good-hewlettpackard-needs-revenue-growth-hpq-ibm-emc-orcl-lnvgy.aspx
Investopedia: Cost Improvements Are Good, But Hewlett-Packard Needs Revenue Growth
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