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The advent of the coronavirus has played out to the benefit of the personal computer and printing giant. Although sales at HP dropped 3.6% year over year to $56.6 billion for the fiscal year ended Oct. 31, 2020, more recent quarters yielded better performance. Investors have been pleased as HP reported strong sales of PCs and printers, driven in part by the rise of remote work. As of mid-May 2021, shares had more than doubled in 12 months, to around $33. Whether the company’s computer sales will shrink as people return to the office remains to be seen.
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