HP (HPQ) shares fell on Monday after the PC and printer maker said industrywide personal computer sales could decline by a mid-single-digit percentage next year.
The Palo Alto, Calif.-based company disclosed the outlook in a filing submitted Monday to the U.S. Securities and Exchange Commission.
HP said its preliminary planning assumption is consistent with current third-party industry forecasts. The market reacted negatively to that outlook, putting pressure on HPQ shares.
The report also noted that HPQ stock had recently broken out, but the new forecast has refocused investor attention on the demand outlook for the PC market.
