HP Stock Outperformed Dell Amid AI-Fueled PC Recovery. Is It The Better Bet?

However, despite the recent setback for Dell, it might be the better long-term pick compared to HPQ. From a valuation standpoint, HPQ is certainly cheaper. The stock trades at just about 10x projected 2024 earnings, although its revenue growth is expected to remain roughly flat this year. The low multiple is due to concerns about its printing business. HP is seeing a secular decline in its high-margin printing business. The business has been HP's cash cow for years, accounting for about two-thirds of its co ...