A strong market position; A significant base of recurring revenues, driven by printer supplies and services; 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 and rapidly evolving technology market; and Current earnings reliance on the 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 partly 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 continued earnings reliance on its printing and imaging segment. HP is a leading, global vendor of
