A strong market position; A significant and growing base of recurring revenues, especially printer supplies; Product and geographic diversity; Strong brand name recognition and image; and A history of successful product development, well supported by R&D funding. Highly competitive, rapidly evolving technology market; and Current earnings reliance on Imaging and Printing segment. The ratings on Palo Alto, Calif.-based Hewlett-Packard Co. (HP) reflect its broad market position and strong financial profile for the rating. These factors partially are offset by the significant level of operational execution risk inherent in the highly competitive and rapidly evolving technology market, as well as the company's predominant earnings reliance on its printing and imaging segment. HP is a leading, global vendor of computing and imaging
