Shares of struggling PC maker Hewlett-Packard have obliterated the market as we head toward the finish line of another very big year for the stock in general.
Hewlett-Packard's struggles over the past several years have been well documented. The rise of smartphones and tablets, as well as depressed spending in the wake of the Great Recession, proved major drags on Hewlett-Packard's core businesses. In fact, Hewlett-Packard has seen its sales fall year over year in the past nine consecutive quarters.
Hewlett-Packard's reversal of fortunes
And despite those issues, HP has several positives going for it. Under the leadership of CEO Meg Whitman, Hewlett-Packard finds itself today slowly emerging from a multi-year turnaround aimed at placing Hewlett-Packard on a viable long-term trajectory. This has required Hewlett-Packard to undergo several rounds of substantial layoffs to shore up the lumbering tech giant's balance sheet. It's also gone to great lengths to put its fated Autonomy acquisition behind it as well.
All this has helped to restore investors' confidence in Hewlett-Packard and send its shares soaring in 2013. In the following video, tech and telecom analyst Andrew Tonner looks at the key storylines that powered Hewlett-Packard's huge performance this year.
Fool contributor Andrew Tonner has no position in any stocks mentioned. Follow Andrew and all his writing on Twitter at @AndrewTonner. The Motley Fool recommends Cisco Systems and owns shares of IBM. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.