Hewlett-Packard Co did the Wall Street shuffle last week with the impression there is that it’s beginning to walk the walk. The company’s internet strategy reads e-services, apps on tap and Java. Merrill Lynch & Co clearly likes the focus, having previously rounded on HP’s lack of vision. HP is leading the pack on an alternative ASP application service provision revenue opportunities; give away the hardware and take a cut of transactions. Its supposedly inked eight deals in the last three months. Although Unix server orders were up in April, the brokerage expects HP to lose significant revenue in the near term following its decision to bail out of EMC Corp storage in favor of Hitachi Data Systems. Thereafter it expects business to build, with better margins.
