NEW YORK (TheStreet) -- HP Inc. (HPQ) stock is rising 0.95% to $11.71 Tuesday afternoon after the company earlier announced that it's partnering with HTC to deliver a virtual reality ready desktop PC for gamers.
The new VR system is called the HP ENVY Phoenix, the company said.
"As virtual reality becomes the next wave of innovation for gaming, customers need a desktop PC specifically configured with quality, performance and computing power to enable the experience," said Kevin Frost, VP and manager of consumer personal systems at HP Inc.
Additionally, the new gaming tower can host a "massive" amount of large format VR games, videos and short animations, the company noted.
Based in Palo Alto, CA, HP Inc. provides products, technologies, software, solutions, and services to individual consumers and small- and medium-sized businesses (SMBs), as well as to the government, health, and education sectors worldwide.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate HP INC as a Buy with a ratings score of B. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its attractive valuation levels and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company has had sub par growth in net income.