NEW YORK (TheStreet) -- Lackluster performance from computer makers Dell (DELL) and HP (HPQ - Get Report) this summer should leave investors rebooting. While all hardware makers are circling the drain; Apple's (AAPL - Get Report) recent price decline stands out as a buying opportunity.
Spinning wheels: After HP's second-quarter results with Whitman at the helm, the stock remains very near where it was at time of her takeover. The new stock price stabilization is anything but confidence building. Keep in mind HP fell off the edge after the board of directors played musical chairs with the CEO seat. If investors really do have confidence in management including the Board, HPQ should trade over $30 per share. Not everyone agrees with my take on HP's situation. TheStreet's James Rogers wrote a convincing article about Whitman's role in preventing further losses. Cheap Doesn't Mean Value: If HP traded for the same multiple as Dell, Apple, Yahoo or even eBay, the stock would be over $30 per share. Short interest is low at 2% and HP pays a 2.4% dividend. The market has voted, and the results are in; don't expect much one way or the other with HP. For anyone who bought into HP more than a year ago it's disappointing all around. As capacious and diverse HP is, investors should expect and receive more from management.