[Info-vax] HP Securities Analyst Meeting 2012

[JF Mezei]

Listening to the web cast at the end, the Q&A

Cathy Lesjack confirms BCS will continue to decrease in revenues for
foreseable future.

HP wants to introduce a tablet in 2013. Likely focused on Windows for
enterprise.

No plans to introduce smartphone in 2013. If HP doesn't have a
smartphone within 5 years, they'll be locked out of a huge market and
suffer.

Where should Enterprise group invest ?
Where are were going to make money 3 years from now ?
Moonshot is the answer, this is where EG invested its money.

Whitman points to how R&D projects kept being pulled with previous
management and points that under her, the investments and commitments
won't change at the whim of the wind.  (read: Moonshot is where the
investment is being made and that won't change).

Meg Whitman and Cathy Lesjack pointed to HP now being more stingy with
investment and choosing their targets carefully. So this makes it mucj
less likely that they would spend mega money porting HP-UX, NSK and VMS
to x86 when those business units are seen as having no growth potential.

Donatelli reiterates the *sigificant* decline of BCS which will continue
into 2013.


When Whitman took over, she saw that Printing generated 35% of profits
so this is where she has been focusing to fix problems. (HP hasn't had a
new "all in 1" model in 7 years for instance).

Interesting that they will work to fix the printing business, but
essentially abandon BCS, not wanting to spend the effort to fix it.


Meg says the two growth engines of the company will be software and
enterprise group.  Would be interesting to know if they expect the
growth come from networking, storage or that moonshot thing. (Not:
project Odyssey not mentioned in presentation).


There were no questions on Oracle or Itanium. It really appears like BCS
is the black sheep that is hidden in the closet and left to rot while
networking, storage and X86/arm servers are given all the attention and
investment.