On May 29, HP Inc. rose 5.56% in after-hours trading, trading at $26.34/share, with trading volume of $12.38 million. The move extends positive momentum following the company's fiscal second-quarter earnings report released on May 27 after market close.

HP reported adjusted earnings per share of $0.86, significantly exceeding the consensus estimate of $0.71, prompting a strong initial market reaction. The quarter's key highlight was AI PC penetration, with approximately one-third of HP's PC shipments consisting of AI-capable models. Prior to the report, HP had already rallied over 20% across six consecutive trading sessions, fueled by Lenovo's strong results and a target price upgrade from JPMorgan to $22.

However, HP's CFO cautioned that rising input costs — particularly memory chip prices — are expected to increasingly pressure operating margins, especially within the Personal Systems segment. The company also lowered the upper end of its full-year profit guidance. Morgan Stanley noted the quarter was better-than-feared but flagged remaining uncertainties, including demand elasticity in response to higher pricing and the risk that front-loaded demand may weigh on fourth-quarter growth.

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