• In late March 2026, HP Inc. unveiled a broad lineup of AI-enabled EliteBook and Z workstations, HP IQ on-device intelligence, NearSense connectivity, Wolf Security upgrades, TPM Guard, and quantum-resistant LaserJet printers, targeting productivity, security, and hybrid-work needs across PCs, printers, and gaming systems.
• A particularly distinctive element is HP TPM Guard, which encrypts the TPM-to-CPU link to block low-cost physical attacks that can bypass BitLocker, while HP also moves to make this protection an industry standard.
• We’ll now examine how HP’s push into on-device AI with HP IQ and NearSense reshapes the company’s existing investment narrative.

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HP Investment Narrative Recap

To own HP today you need to believe that AI PCs, security focused devices, and workflow software can offset slow growth and structural headwinds in traditional PCs and print. The late March 2026 launches around HP IQ, NearSense, and TPM Guard speak directly to that thesis, but they do not fundamentally change the near term picture where execution on AI PCs looks like the key catalyst and financial health and intense hardware competition remain central risks.

Among the announcements, HP IQ and NearSense are most relevant, because they try to move HP’s AI PCs beyond raw specs into differentiated, on device productivity and cross device experiences. If HP can turn these capabilities into real adoption and pricing power, they could help counter margin pressure in a crowded PC and printer market and support the broader shift toward higher value, recurring and managed services over time.

Yet while HP’s AI push is promising, investors should also be aware of the less visible risk that...

HP's narrative projects $56.8 billion revenue and $2.9 billion earnings by 2028.

Uncover how HP's forecasts yield a $19.99 fair value, in line with its current price.

Exploring Other Perspectives

Some of the most optimistic analysts were assuming HP could lift revenue to about US$60.2 billion and earnings to roughly US$3.2 billion, but the new AI and security launches also sharpen the execution risk around AI PCs and premium devices, so you should recognize that these bullish assumptions may prove too aggressive and that reasonable investors can reach very different conclusions about HP’s future path.

Explore 7 other fair value estimates on HP - why the stock might be worth over 2x more than the current price!

Reach Your Own Conclusion

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your HP research is our analysis highlighting 2 key rewards and 3 important warning signs that could impact your investment decision.
• Our free HP research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate HP's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.