Hewlett-Packard Company (HPQ), Canon Inc. (ADR) (CAJ), Staples, Inc. (SPLS): Is the Paperless Office Finally Here?

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And these technologies still remain in their infancy. The Pew Research has been tracking tablet ownership since May 2010, when just 3% of American adults owned a tablet. That figure jumped to 25% last August, and reached a 34% in May. At the same time, tablets continue to get smaller and lighter (Apple Inc. (NASDAQ:AAPL)‘s next iPad is rumored to be much smaller and lighter), making them even better replacements for traditional paper.

Investing in the printer space

Although it’s a trend that’s been discussed literally for decades, the paperless office now looks like it might finally be becoming a reality. Companies that remain reliant on printing — HP, Staples, Inc. (NASDAQ:SPLS), and Canon Inc. (ADR) (NYSE:CAJ) — have posted poor results. As cloud-based storage solutions become more popular, and tablets get both smaller and lighter, this trend is likely to accelerate in the coming quarters.

HP, while a massive company with many other divisions, still gets a large chunk of its revenue and profit from printing. Canon Inc. (ADR) (NYSE:CAJ), too, remains heavily reliant on the sale of printers. Staples sells many other products, but printers, ink, and toner remain a staple good. As the printing industry goes into decline, investors should consider avoiding all three stocks.

The article Is the Paperless Office Finally Here? originally appeared on Fool.com and is written by Sam Mattera.

Sam Mattera owns shares of Best Buy. The Motley Fool recommends Apple and Google. The Motley Fool owns shares of Apple, Google, and Staples. 

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