Who is responsible for the fiasco at Hewlett-Packard (NYSE:HPQ) - AAPL

Mark Hurd, the Ex-chief executive of Hewlett-Packard (NYSE:HPQ) might be sitting somewhere and laughing at the way things are happening at Hewlett-Packard (NYSE:HPQ) after he was forced to resign from the company in August 2010 under a cloud of HR shadiness.

Thanks to the management of Hewlett-Packard (NYSE:HPQ) and the board that saw it all the replacement of Mark Hurd and also 75% fall in share price of the silicon valley company. A few days after Mark Hurd had resigned his friend and soon to be CEO of Oracle Mr. Larry Ellison in a letter to the New York times said that “The H.P. The board just made the worst personnel decision since the idiots on the Apple Inc. (NASDAQ:AAPL) board fired Steve Jobs many years ago.” ,

Currently Hurd and Ellison both are in Oracle and they might just be laughing at the current state of Hewlett-Packard(NYSE:HPQ) with a cup of tea in their hands. Oracle’s market  cap is six times more than the current worth of Hewlett-Packard(NYSE:HPQ).

On Tuesday Hewlett-Packard(NYSE:HPQ)’s council had announced in a press release that it would write off $8.8 billion which it had spent for buying U.K. software company. A deal which was approved by Hurd’s replacement Apotheker.

CEO Meg Whitman in an interview to CNBC said publicly that she regretted voting for the Autonomy deal during her term as a board member.

A lot of analysts have been of the view that Hewlett-Packard(NYSE:HPQ) as a Turnaround Supertanker who is tanking continuously.
The share price of Hewlett-Packard (US: HPQ) was at $12.44 up by 4.19% where as shares of Apple Inc. (NASDAQ:AAPL) were up by 0.08% to close at $571.98.

About the Author

Viraj Shah has done M.Com (Finance) and currently pursuing CFP. He is a technical analyst who tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in market.

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