Hewlett-Packard Company (NYSE:HPQ) announcement that it is to venture into the broader 3D printing market with a technology that can print ten times faster has thrown most of the stocks in the space into disarray. Stratasys, Ltd. (NASDAQ:SSYS) CEO, David Reis, during an exclusive interview on CNBC, acknowledged the fact that HP is going to be a huge competitor in the space.
Despite the big announcement from Hewlett-Packard Company (NYSE:HPQ), Reis believes Stratasys, Ltd. (NASDAQ:SSYS) 25-years’ experience in the space will be of great benefit in fending off any competition going forward. Reis remains bullish about Stratasys ability to gain market share in the space even with the entry of more players.
“I think Hewlett-Packard Company (NYSE:HPQ) is a very strong brand, I think it will help us to fight one of our main challenges which is to create awareness to 3D printing into additive manufacturing. Nevertheless as a competitor, HP is a serious company, what was announced at this time is a technology I am not sure how it is going to be reflected into products. I just don’t know enough at this time,” said Mr. Reis.
Reis has already reiterated that Stratasys, Ltd. (NASDAQ:SSYS) has a number of products in the pipeline that are to fight off any competition that Hewlett-Packard Company (NYSE:HPQ) might pose going forward. Stratasys research and Development team according to Reis is in top gear developing products that should be in a position to compete hand in hand against the self-proclaimed ten times faster printers from HP.
Focus now shifts to the Euromold conference where key players in the printing space are to unveil a set of new products that should revolutionize the 3D printing landscape.
“We are going to come with new products in Euromold, we are constantly working in developing new products and the announcement of new products is an ongoing process. Euromold is just one milestone we are accelerating products to market in the last few years, and we will continue to do it into the future, “said Mr. Reis
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW