HP(US:HPQ) Jin Rong Jie·2025-11-27 06:05Core Insights - HP indicated that memory price pressures will significantly manifest in the second half of fiscal year 2026, specifically from April to October 2026 [1] - Currently, memory accounts for 15-18% of the total cost of a typical PC product [1] - HP has a substantial inventory of memory and has secured long-term supply contracts with upstream companies, which will help mitigate the impact of memory price increases during the first half of fiscal year 2026 [1] - The company plans to implement a broad yet targeted pricing strategy for its products, analyzing specific cases to determine pricing for each region and product category [1] - The penetration rate of AI PCs in HP's shipments reached over 30% in the fourth quarter of fiscal year 2025, with expectations to increase to 40-50% in fiscal year 2026 [1]