10 Undervalued Quantum Computing Stocks to Buy Now

2. HP Inc. (NYSE:HPQ)

Number of Hedge Fund Holders: 48

Forward Price to Earnings (P/E) ratio: 7.19

HP Inc. (NYSE:HPQ) leads the world in PC, printing, and 3D printing tech, working in three areas: Personal Systems, Printing, and Corporate Investments. Its product lineup covers desktops, laptops, notebooks, workstations, printers for commercial and consumers, and hybrid systems for today’s workers. The company is now heavily focused on AI and digital transformation to grow in AI and hybrid work environments.

In Q1 FY2025, HP’s revenue grew 2% from last year, with Personal Systems revenue up 5%, mostly from commercial PC sales. The company’s non-GAAP EPS hit $0.74, slightly beating its guidance midpoint, despite missing analyst expectations. Operating profit reached $984 million with $70 million in free cash flow, while HP Inc. (NYSE:HPQ) also gave back nearly $400 million to shareholders through buybacks and dividends.

HP’s Printing segment showed mixed results, where consumer print revenue increased 5%, but overall print revenue fell 1% in constant currency. The company’s innovation in AI and security is going strong, as HP Inc. (NYSE:HPQ) launched the first quantum-resilient printers with special ASIC chips. These chips use quantum-resistant encryption to protect against future quantum computing threats, positioning HP as a leader in preparing for quantum disruption in the computing industry.

Looking ahead, HP Inc. (NYSE:HPQ) expects significant growth in the second half of the year, driven by Windows 11 upgrades, more AI PCs, and ongoing cost cuts. The company raised its yearly free cash flow guidance to $3.2-$3.6 billion, showing financial strength. Its emphasis on security, AI, and quantum-resistant tech shows that the company is ready for whatever comes next in technology.