) has secured a deal from AAA Northern California, Nevada &
Utah Insurance Exchange (AAA NCNU IE). The insurance outfit
selected HP to maintain and upgrade its mainframe setup. This is
a part the insurance company's plans to become a national
As per this agreement, HP will continue to provide necessary
support to AAA NCNU IE's staff, which will help them maintain
applications and manage the latter's database, providing support
to membership, policies, claims and other business
This is a unique combination, wherein AAA NCNU IE will
leverage HP Data Center Services and other infrastructure
services for its improve its daily operations. This will help AAA
NCNU IE to provide better insurance products and services to its
Through deal wins and by adopting diversification strategies,
HP is taking aggressive measures to enhance its operations and
business model. The slump in its core computing market and
cannibalization by tablets has driven this computing giant to
take these measures.
Apart from insurance companies, the company is winning deals
from FMCG companies like
Procter& Gamble Co.
). PG has opted for HP Converged suites to achieve constant and
uninterrupted IT services.
In today's technology-driven world, the enterprise storage
space is one of the most enviable growth areas and we believe
that HP is doing very well in this category. Moreover, providing
solution related to a company's decision support system and
automating the operation management process are other areas being
slowly explored by HP.
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While the PC market is expected to remain in the doldrums this
year and declining revenues as well as competition from
) and Lenovo are concerns, back-to-back product launches and
growing exposure to the enterprise storage space look
Currently, HP has a Zacks Rank #2 (Buy). Investors may also
consider technology stocks such as
), which has a Zacks Rank #2 (Buy).