The ratings on Palo Alto, Calif.-based Hewlett-Packard Co. (HP) reflect Standard&Poor's Ratings Services' expectation that the company will maintain its strong business profile and modest financial profile despite ongoing technology risk, highly competitive market conditions, and a recent escalation in acquisitive growth strategies. We do not believe that new leadership will alter the company's strategic direction in a way that affects the rating. HP's strong business profile is based on its leadership position in computing and imaging solutions, along with the breadth of its portfolio, which spans from consumer markets to enterprise solutions across the globe. Recent acquisition activity bolsters its range of solutions to the enterprise market and, in the case of Palm Inc., augments its consumer
