If fewer people are interested in buying a new personal computer, then fewer investors want to own stakes in companies whose fortunes are tied to the sales of laptop and desktop machines.
Hewlett-Packard plans to jettison 27,000 workers as the growing popularity of smartphones, the iPad and other mobile devices makes it tougher for the company to sell personal computers.
Hewlett-Packard Co. is showing signs of recovery as it strengthened its position as the world’s largest maker of personal computers and gained back some of the business it had lost while weighing whether to dump its PC division.
Hewlett-Packard Co.’s shares sank to a 6-year low Friday after the Palo Alto-based technology conglomerate announced third-quarter results and said it would shut down its mobile devices business, try spinning off its PC business and pay about $10 billion for business software maker Autonomy Corp.
Thirty years ago tomorrow, IBM unveiled the personal computer that some say changed the world. It was the 5150 machine that made a big leap forward.