Apple Inc. (AAPL), Google Inc (GOOG): Why Is Hewlett-Packard Company (HPQ) Soaring Today?

If HP plans to bring an Android-based handset to market in 2013, it comes at the same time as platform guru Google Inc (NASDAQ:GOOG)‘s own attempt to get some value out of its $12 billion Motorola acquisition. That’s a huge investment — and a money-losing one so far. The Motorola X handset has a lot to prove right now.

And on the low end, a handful of struggling incumbents are facing off with new entries from open-source software houses Ubuntu and Mozilla.

Whether HP decides to attack the premium handset segment or the less glamorous but high-volume budget side, neither market will yield easily to a new competitor — no, not even to one with HP’s well-known brand name.

Apple Inc. (NASDAQ:AAPL) is already adjusting to a lower-margin smartphone future, and it will fight to the death to protect its high-end territory. Samsung is less concerned with wide margins, as the company addresses every segment of the market. The Korean company fought tooth and nail to become the world’s largest handset-maker, and it may be an even tougher nut to crack than Cupertino.

The proof is in the pudding, they say. It looks like HP is coming up with a new mobile recipe here, but it seems premature to invest in the company based on assumptions and speculation. Yes, HP needs a mobile strategy in order to stay relevant. No, we haven’t seen enough to assume that the company will be a winner in this space anytime soon.

In other words, today’s nearly peak gain of nearly 6% doesn’t look sustainable. As for the massive year-to-date climb, it will stick around only if CEO Meg Whitman’s ambitious but unfocused turnaround plans work out as expected. That’s another gamble — not a solid investment thesis. And so my thumbs-down CAPScall on HP stands.

The article Why Is Hewlett-Packard Soaring Today? originally appeared on Fool.com and is written by Anders Bylund.

Fool contributor Anders Bylund owns shares of Google, but he holds no other position in any company mentioned. Check out Anders’ bio and holdings or follow him on Twitter and Google+. The Motley Fool owns shares of Google and Apple. Motley Fool newsletter services have recommended buying shares of Apple and Google.

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