Benzinga | Jul 12, 2021 03:05PM EDT

HP Shares Fall Over Potential Weak PC Demand Growth: Bloomberg

* HP Inc (NYSE:HPQ) shares dropped amid analyst concerns over waning PC demand, Bloomberg reports. The decline marked the most intraday low in six weeks.

* Analysts expressed concerns over the sustainability of the 55% growth in PC shipments during Q1.

* Early indicators might suggest a correction in consumer demand despite substantial demand potential in the consumer segment, an Evercore analyst stated.

* The supply constraints, rising inventory levels could also signal to slow PC demand in the consumer and education markets, a Morgan Stanley analyst observed.

* Price action: HPQ shares traded lower by 3.48% at $28.99 on the last check Monday.