HP Inc. stock jumped 8.9% on June 2, 2026, after the company announced a new lineup of PCs and notebooks powered by NVIDIA’s RTX Spark platform, targeting AI developers, creators, and gamers. The stock hit a fresh 52-week high of $29.55 during the session.
The move came hot on the heels of a strong earnings report just days earlier, which had already sent the stock up 10.1%.
For Q2 FY2026, HP posted revenue of $14.4 billion, beating the $13.99 billion analyst estimate. Adjusted EPS came in at $0.86, well above the $0.71 forecast.
The quarter wasn’t without headwinds — PC unit volumes fell 7% year-over-year. But higher pricing and a shift toward premium products helped offset that decline.
HP’s Personal Systems division carried a lot of the weight, with revenue up 13% to $10.2 billion. AI PCs now make up 44% of total shipments, up from the prior quarter.
The new NVIDIA-powered lineup includes OmniBook laptops and a compact desktop. The product announcement added fuel to an already bullish setup following earnings.
Options market activity backed up the enthusiasm. Call option volumes were unusually high on the day, suggesting traders were positioning for further upside.
HP isn’t just riding the AI wave — it’s making a direct bet on it. The company said AI PCs could represent 60–70% of its total shipment mix next year, a sharp jump from the current 44%.
The company also reported double-digit revenue growth in advanced compute solutions and workforce solutions, alongside gains in premium PC market share.
HP has paid dividends for 56 consecutive years. The current yield sits at 4.09%, and InvestingPro’s Fair Value estimates suggest the stock may still have room to run.
Not everyone is on board. Goldman Sachs reiterated a Sell rating on HPQ with a price target of $19.00 — a big discount to where the stock is currently trading. The firm cited margin pressure as its main concern.
That’s a notable gap between Goldman’s target and the current price, and it’s worth keeping in mind given the stock’s sharp run-up.
HP is up 32.6% year-to-date and is trading near its 52-week high. Despite that gain, investors who bought $1,000 worth of HP stock five years ago would have just $982.22 today.
Goldman Sachs maintained its $19.00 price target following the Q2 earnings beat, with margin pressure remaining the central concern.
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