Is Hewlett-Packard Stock a Buy After Its Recent Earnings Rally?

If you'd have told tech investors two years ago that then-struggling Hewlett-Packard (NYSE: HPQ  ) would have trounced the performance of any of the names in the Dow Jones Industrial Average from which Hewlett-Packard was expelled earlier this year, you'd probably have raised more than your fair share of eyebrows.

Source: HP.

Fast-forward to today, and HP, under the guidance of CEO Meg Whitman, has made some impressive strides to plug the many holes that threatened to bring down Hewlett-Packard years ago.

But what about next year?
And even despite having nearly doubled in 2013 alone, HP remains perhaps one of the most challenging investment calls in tech as we roll into the new year.

In assessing its financial performance, it becomes clear HP isn't exactly shooting the lights out. In its most recent quarter, HP saw revenue and profits both decline amid fierce competition in virtually every area of its business. Worse yet, those same headwinds appear likely to last well into next year, if not further. However, when you look at its current pricing, HP still looks like a compelling value on paper.

So what's the verdict? Is HP still a home-run stock or a horror story in the making?

In this video, tech and telecom analyst Andrew Tonner gives his opinion on Hewlett-Packard stock at today's prices.

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