Question-and-Answer SessionJoseph HoganPresident, CEO & Director Yes. I feel good about Align from a strategic standpoint. We've been at this almost 30 years, obviously. There's no company in the world that knows how to move teeth better than us. When you look at our assets, the way they're spread right now, strong plant in China, Poland and Mexico, we have the different poles covered extremely well. The breadth of our technology has gotten better now with IPE and mandibular advancement and some different p ...

Core Viewpoint - HP Inc. will hold a live audio webcast to discuss its financial results for the fourth fiscal quarter and the fiscal year ending October 31, 2025, scheduled for November 25, 2025 [1] Group 1: Financial Results Announcement - The conference call will take place at 5:00 p.m. ET / 2:00 p.m. PT on November 25, 2025 [1] - The audio webcast will be accessible at www.hp.com/investor/2025Q4Webcast [1] - A replay of the audio webcast will be available shortly after the call and will remain accessible for approximately one year [1] Group 2: Company Overview - HP Inc. is a global technology leader operating in over 170 countries [2] - The company provides a wide range of innovative and sustainable devices, services, and subscriptions across various sectors including personal computing, printing, 3D printing, hybrid work, and gaming [2]

Core Insights - HP Inc. is valued at a market cap of $25.9 billion and operates in personal computing, printing, 3D printing, hybrid work, and gaming technologies [1] - The company is expected to announce its fiscal Q4 earnings for 2025 soon, with analysts predicting a profit of $0.92 per share, a decrease of 1.1% from the previous year [2] - For fiscal 2025, HP is projected to report a profit of $3.11 per share, down 8% from $3.38 in fiscal 2024, but expected to rebound to $3.32 in fiscal 2026 [3] Performance Overview - HP's stock has declined 24.3% over the past 52 weeks, underperforming the S&P 500 Index's return of 18.4% and the Technology Select Sector SPDR Fund's increase of 29.8% [4] - Despite the decline, HP shares experienced a rally in mid-October following positive news, including the announcement of a new manufacturing facility and AI R&D Center in Riyadh, which boosted investor confidence [5] - Following the positive news, shares rose 5.9% on October 13 and an additional 2.6% the next day after HSBC upgraded HP to "Buy" with a price target of $30 [6] Analyst Sentiment - Wall Street analysts maintain a cautious outlook on HPQ's stock, with an overall "Hold" rating; among 15 analysts, one recommends "Strong Buy," 13 suggest "Hold," and one advises "Strong Sell" [6] - The mean price target for HPQ is $28.23, indicating a 1.1% premium from current levels [6]

Business & Entrepreneurship - Starting a business at a young age cultivates essential life skills such as time management, problem-solving, and confidence [3][4][5] - AI empowers young entrepreneurs by providing tools to overcome resource limitations and accelerate business development [2][6] - AI tools can replace expensive services, exemplified by using Canva for logo design instead of spending $500 [6] - Utilizing AI can provide a competitive edge in the business landscape [7] AI Utilization - AI tools like Canva, ChatGPT, and DALL-E can assist with design, brainstorming, and store building, making entrepreneurship accessible [6][7] - AI enables rapid iteration and experimentation, reducing the risks associated with traditional business ventures [10] - The integration of AI in business is considered as revolutionary as the invention of the calculator [13] - Over-reliance on traditional methods without embracing AI may lead to competitive disadvantage [14] Marketing & Growth - Social media platforms like TikTok can be leveraged for promotion and customer acquisition [7][8] - Building a fan base of 1,000 followers before launching a website can lead to significant growth, exemplified by one account growing to over 6,000 followers and accumulating over 4 million views [8] Financial & Investment - A well-structured business plan, including profit-sharing arrangements (e.g., 85% share), can attract investment [11]

Group 1: Automation Trends - Automation is reshaping offices and factories, changing the nature of work across various sectors [1] - Robotic process automation (RPA) is evolving into intelligent automation, which combines AI with RPA to automate complex business processes [2] - GlobalData's Future of Work report highlights automation as a key segment in the evolution of the workplace, indicating its significant role in reshaping industries [3] Group 2: Industry-Specific Insights - The Future of Work in Power report emphasizes that automation technologies are critical investments for all industry segments, improving productivity and efficiency [4] - In the power sector, autonomous robots and drones are expected to manage complex and hazardous operations, such as servicing wind farms [4] - The oil and gas sector also benefits from automation, which enhances health and safety by mitigating risks in hazardous environments [4]

Core Insights - Companies with a strong history of dividend payments and increases are attractive to income-focused investors, with Comcast, HP, and MAA recently announcing dividend hikes and offering yields over 4% [1] Comcast - Comcast has increased its dividends for 17 consecutive years, with a recent hike of 6.5% to $0.33 per share, translating to an annual payout of $1.32 per share [3] - The current dividend yield for Comcast is 4.47% [3] - As of June 30, Comcast's annual revenue was $124.18 billion, with Q2 2025 revenues of $30.31 billion and EPS of $1.25, both exceeding expectations [4] HP - HP has raised its dividends for nine consecutive years, with a recent increase of 5% to $0.2894 per share, equating to an annual figure of $1.16 per share [6] - The current dividend yield for HP stands at 4.23% [6] - HP's annual revenue as of July 31 was $54.71 billion, with Q3 2025 revenues of $13.93 billion, surpassing the consensus estimate of $13.81 billion, while EPS of $0.75 met expectations [7] Mid-America Apartment Communities (MAA) - MAA is a real estate investment trust focused on owning, managing, and developing quality apartment communities primarily in the Southeast, Southwest, and mid-Atlantic regions of the U.S. [7]

Company Overview - HP Inc. has a market cap of $26.1 billion and is a leading provider in personal computing, printing, 3D printing, hybrid work, and gaming technologies [1] - The company operates through three segments: Personal Systems, Printing, and Corporate Investments [1] Market Position - HP Inc. is categorized as a large-cap stock, benefiting from strong brand recognition and a diversified portfolio that includes PCs, printers, and emerging technologies like 3D printing [2] - The company invests significantly in R&D and focuses on innovation to remain competitive in trends such as AI-enabled PCs and hybrid work solutions [2] Stock Performance - HPQ stock has decreased by 29.7% from its 52-week high of $39.79 on November 25, 2024 [3] - Year-to-date, HPQ shares are down 14.3%, while the Nasdaq Composite has gained 14.7% in 2025 [4] - Over the past 52 weeks, HPQ stock has fallen 15.5%, compared to a 26% increase in the Nasdaq Composite [4] Analyst Ratings - The consensus rating among 15 analysts covering HPQ stock is a "Hold," with a mean price target of $28.30, indicating a modest 1.2% upside potential from current levels [6] - On September 10, HP shares fell more than 2% after Evercore ISI downgraded the stock to "In Line" from "Outperform," citing limited upside potential and sluggish demand in the PC and printing markets [5]

Group 1 - HP Inc. has been highlighted by Jim Cramer as a stock that continues to miss quarterly expectations, despite having repurchased 6% of its shares on average [1] - The company operates in personal computing devices, printers, 3D printing, and related technologies, along with services for hybrid work and gaming [1] - Cramer expressed skepticism about HPQ's potential in the 3D printing sector, stating it will not significantly impact the company's performance and advised against investing in the stock [1] Group 2 - Despite Cramer's negative outlook, HPQ's stock has gained over 14% since his comments [1] - There is a belief that certain AI stocks present greater upside potential and carry less downside risk compared to HPQ [1]

Core Insights - Footwear industry is experiencing disruption due to advancements in 3D printing technology, which could enable production to shift back to the U.S. [1] - Traditional shoe manufacturing remains predominantly in Asia, but 3D printing presents new production possibilities that could change this dynamic [1] Industry Implications - The potential for localized production through 3D printing may reduce reliance on overseas manufacturing, impacting supply chains and logistics in the footwear sector [1] - Companies in the footwear industry may need to adapt to these technological changes to remain competitive and meet evolving consumer demands [1]

Financial Performance & Growth - Protolabs achieved $504 million in revenue in 2023[6] - The company's Non-GAAP gross margin was 45% in 2023[6] - Adjusted EBITDA reached $83 million in 2023[6] - Protolabs Network revenue experienced a 69% year-over-year growth in constant currencies in 2023[60] - The company's revenue increased by 5% year-over-year, excluding Japan, in 2023[56] Customer Base & Manufacturing - Protolabs has served over 53,000 customer contacts[6,36] - The company has manufactured over 450 million parts to date[6] - Over 85% of Fortune 500 companies in target industries are served by Protolabs[36] - More than 90% of revenue comes from returning customers[44] Market & Outlook - Protolabs operates in a $100 billion+ market[8,14,18] - The company anticipates Q1 2024 revenue between $120 million and $128 million, representing a growth range of -5% to 2% year-over-year[73] - Non-GAAP EPS for Q1 2024 is projected to be between $0.26 and $0.34, indicating a year-over-year growth range of -12% to 15%[73]