HP CEO Predicts AI PCs Will Double PC Market Growth

Despite a 15% decline in revenue for fiscal 2023, HP is optimistic about the future with the launch of AI PCs and the shift to Windows 11.

HP CEO Enrique Lores predicts that the advent of AI PCs will double the overall PC category growth rate over the next three years, starting in 2024.
HP reported a 15 percent year-on-year decline in revenue to $53.7 billion for fiscal 2023, with a profit before tax of $2.93 billion.
HP is on track to launch its AI PCs in the second half of 2024, with more penetration expected in 2025 and 2026.
HP's fourth-quarter revenue was $13.8 billion, down 6.5 percent year-on-year, with Personal Systems down 8 percent to $9.4 billion and Printing down 3 percent to $4.4 billion.
HP expects business PC refresh cycles to kick in next year, with more corporate customers shifting to Windows 11.