During an analyst meeting Tuesday,

Hewlett-Packard

(HPQ) - Get Report

CEO Carly Fiorina reiterated expectations the company can grow earnings 20% or more for fiscal 2004 and the next couple of years.

Fiorina also said H-P will create $7 billion in internal growth by the end of fiscal 2004. "In essence, we created an organic growth company the size of

EMC

(EMC)

," she bragged in a presentation at H-P's headquarters in San Jose, Calif., that was simultaneously broadcast over the Internet.

Although H-P is number one or two in most of the markets it serves, Fiorina suggested the company has ample opportunity to garner a greater percentage of its customers' IT spending. In fiscal 2003, existing customers spent $710 billion on products and services H-P offers, she said; during that year, H-P had revenue of $73.06 billion.

She also said the company has "huge opportunities" in new markets like digital media, which Fiorina said is about a $400 billion market.

H-P shares were recently up 13 cents, or 0.6%, to $21.79.