Why HP Fell Today

HP was downgraded on fears of a delayed PC recovery.Shares of PC and printer maker HP (HPQ -3.35%) fell today, down as much as 4.8% at one point before recovering to a 4.1% decline as of 1:50 p.m. ET.Back when the old Hewlett-Packard split in two, HP retained the legacy, low-growth businesses of PCs and traditional ink printers.While some had hoped for a late-year boost thanks to the advent of the "AI PC," one analyst wrote today that the refresh might not be coming until next year, or even beyond.Citi down ...