HPE Added to Evercore's Outperform List With Strong AI Server and Networking Demand Outlook

Hewlett Packard Enterprise Company (NYSE:HPE) ranks among the best computer hardware stocks to invest in. Evercore ISI added Hewlett Packard Enterprise Company (NYSE:HPE) to its “Outperform List” on August 20, stating that the company is well-positioned to outperform July-quarter estimates and give a stronger outlook once the acquisition of Juniper Networks (NYSE:JNPR) has been included in results.

According to the firm, the demand for networking equipment is increasing, and year-over-year comparisons should continue to be positive for the rest of the year. Additionally, it anticipates that HPE would gain from increased sales of AI servers as GPU supply improves.

Outside the acquisition, Evercore reported that a refresh cycle and improved execution following previous blunders are helping HPE’s core server business to improve. The company’s internal cost-cutting initiatives, such as the anticipated 5% layoffs in fiscal 2025, could further boost its financial performance.

Hewlett Packard Enterprise Company (NYSE:HPE) provides data services globally through its several divisions, including Corporate Investments, Compute, HPC & AI, Storage, Intelligent Edge, and Financial Services. Additionally, the company offers software-defined infrastructure (SDI) solutions to help businesses with software development and deployment, automation, network management, and storage.

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Disclosure: None. This article is originally published at Insider Monkey.