How Investors Are Reacting To HP (HPQ) Expanding Device Protection With New Asurion Partnership

• In August 2026, Asurion announced a new collaboration with HP Inc. to launch HP Care Complete in the U.S., offering subscription-based protection and tech support that extends beyond traditional warranties to cover HP and non-HP PCs plus a wide range of connected home devices.
• This move highlights HP’s push toward recurring service relationships across the full device lifecycle, aiming to simplify multi-device support while broadening its role inside the connected home.
• Next, we’ll examine how HP Care Complete’s subscription-based protection model could influence HP’s investment narrative around services, margins, and growth.

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HP Investment Narrative Recap

To own HP, you need to believe the company can offset mature PC and print markets by building higher-margin, recurring services on top of its hardware base. The HP Care Complete launch with Asurion fits directly into that thesis, but it does not change the most immediate catalyst, which is the upcoming earnings report, or the key risk that hardware price competition and slowing demand could still pressure margins and limit progress.

Among recent announcements, HP’s ongoing rollout of AI PCs and HP IQ experiences is especially relevant. Together with HP Care Complete, it shows HP trying to pair premium, AI-enabled hardware with ongoing support and protection services. For investors, the question is whether this combination can meaningfully shift HP’s mix toward more predictable, service-driven revenue at a time when core PC and print markets are facing structural and competitive pressures.

Yet behind the appeal of recurring support plans and a low P E, investors should be aware that hardware price pressure and structurally challenged print demand could still...

Read the full narrative on HP (it's free!)

HP's narrative projects $58.3 billion revenue and $2.7 billion earnings by 2029.

Uncover how HP's forecasts yield a $22.91 fair value, a 24% downside to its current price.

Exploring Other Perspectives

Some of the most optimistic analysts were already assuming HP could lift earnings to about US$3.2 billion by 2029, so this kind of service-led move may either reinforce that AI and cost discipline catalyst or expose how much depends on everything from pricing power to execution in AI PCs.

Explore 7 other fair value estimates on HP - why the stock might be worth 40% less than the current price!

Reach Your Own Conclusion

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your HP research is our analysis highlighting 3 key rewards and 3 important warning signs that could impact your investment decision.
• Our free HP research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate HP's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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