New York, May 24, 2026, 12:02 (EDT)
- HPQ jumped 15.3% to finish at $25.24 on Friday. U.S. markets will be closed Monday for Memorial Day.
- Investors want to see in HP’s May 27 fiscal Q2 print if AI PC demand is enough to balance memory-chip and tariff headwinds.
- Dell and Lenovo jumped, sending PC hardware stocks higher. Margins are still the key question.
HP Inc. shares saw their biggest jump in months this week, rising Friday as Lenovo’s strong numbers kicked off buying in PC hardware names. Traders are also looking ahead to HP’s next earnings report.
The stock ended Friday at $25.24, jumping 15.3% for the session. Volume came in around 48.7 million shares. Shares wrapped up about 21% higher than the May 15 close at $20.81, historical market data shows.
HP will report fiscal Q2 numbers after markets close on Wednesday, in a week shortened by the Memorial Day holiday. U.S. equity markets are closed Monday, May 25, for Memorial Day, the NYSE says. The exchange lists Memorial Day as a full holiday for 2026.
HP plans to report Q2 2026 results in a call set for May 27 at 2:30 p.m. Pacific. The investor-relations page also shows HP will appear at an Evercore TMT conference on June 2, giving investors another chance to hear from leadership soon.
Tech stocks jumped on Friday. Reuters said Dell Technologies climbed 17% to a record, HP was up 15%, after Lenovo reported its quarterly revenue jumped 27%, beating forecasts. The S&P 500 put up its eighth winning week in a row. “Earnings season looked really good,” James St. Aubin, chief investment officer at Ocean Park Asset Management, told Reuters. Reuters
Lenovo reported revenue jumped to $21.6 billion for the quarter, topping analyst forecasts set at $18.7 billion. Sales in its main PC, tablet and smartphone unit climbed 24%. CEO Yang Yuanqing told Reuters there’s a “heavy shortage” in memory chips, with costs going up quickly. Reuters
HP’s outlook gets a lift from Lenovo’s results: demand looking up, but higher input costs are still a drag. “Read-through” is what the market calls it when traders use one firm’s numbers to guess what’s next for another. Here, Lenovo’s latest quarter points to PC demand holding up better, though rising memory-chip prices still weigh on margins.
HP’s latest quarter shows the rally has some footing. The company said first-quarter revenue was up 6.9% to $14.4 billion. Personal Systems, the PC segment, jumped 11%. Interim CEO Bruce Broussard pointed to “continued momentum in AI PCs.” CFO Karen Parkhill said HP still expects full-year results to land near the “low end” of guidance, blaming higher memory costs. investor.hp.com
AI PCs use chips and features that let them handle artificial-intelligence work on the device, without sending everything to the cloud. Investors keep looking at whether this group of machines will drive PC upgrades again, after a long drop in demand since the pandemic.
HP flagged the risks back in February. The company said volatility in memory chips would stick around and it sees PC unit shipments dropping by double digits in fiscal 2026. Reuters also reported that HP was facing tariff costs and supply-chain issues, with pricing moves as part of its response.
HP’s rally on Friday is set to face pressure if the company comes in with a weaker earnings outlook. The stock isn’t priced like the pure-play AI names—it’s a cheaper, slower hardware story. If management signals that units are down, pricing is tighter, or margins are under more stress, the bounce could turn out to be short covering instead of a shift in where investors see the business going.
The market set its position ahead of the numbers. With the holiday break, HPQ investors are on hold until Tuesday’s reopening and then Wednesday’s results to find out if the Lenovo rally connects to real earnings.
