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HP and Dell: Stuck in the Middle of a Market They No Longer Control (2026–2030)

At CES this year, analysts delivered one of the bluntest assessments the PC industry has heard in decades. While Apple and Lenovo are projected to become mega giants by 2030, far larger and more dominant than they are today, HP and Dell face a very different trajectory. Experts described both companies as “too large to pivot quickly, but too dependent on legacy PC economics to compete at the cutting edge.”
The consensus across panels and private briefings was clear. HP and Dell will not disappear, but they will be significantly smaller by the end of the decade. Multiple analysts forecast that each company will be less than half the size they are today by 2030, a direct result of structural disadvantages that intensify between 2026 and 2030.
The forces driving this contraction are the same ones powering Apple and Lenovo’s rise: AI acceleration, unified memory architectures, and a global shortage of advanced DRAM and HBM that favors vertically integrated giants.

HP: The Enterprise Giant Without a Silicon Strategy
By 2030, HP remains a recognizable brand, but primarily because of its enterprise contracts an government relationships, but the printing ecosystem completely collapses. Its consumer PC business, once a global leader, shrinks sharply during the second half of the decade.
Analysts at CES highlighted three core weaknesses:
• No proprietary silicon
HP depends entirely on Intel, AMD, and NVIDIA for AI acceleration. As AI PCs shift toward unified memory and custom neural engines, HP cannot differentiate.
• Thin margins in a tightening consumer market
Memory shortages hit HP’s mid‑range systems hardest. With HBM and advanced DRAM diverted to AI servers, HP’s consumer lineup becomes less competitive.
• Slow transition to AI‑native design
HP’s attempts to retrofit AI features into traditional laptops fall short of the performance delivered by vertically integrated competitors.
By 2029 and 2030, HP begins exploring carve‑outs and strategic restructuring to protect its enterprise business but the consumer footprint is gone.

Dell: A Server Powerhouse Dragged Down by Its PC Division
Dell enters the late 2020s with a booming server and data‑center business driven by global AI infrastructure demand. Yet this strength exposes the weakness of its PC division.
CES analysts pointed to several structural challenges:
• PCs lose strategic relevance inside Dell
As AI servers dominate revenue, the PC division becomes a low‑margin legacy business.
• Dependence on third‑party memory and GPUs
When HBM shortages intensify between 2027 and 2029, Dell prioritizes servers, leaving its PC lineup underpowered and overpriced.
• Enterprise buyers shift to AI‑native devices
Corporate customers increasingly choose AI‑accelerated systems from Apple and Lenovo, which offer better on‑device inference and unified memory designs.
By 2030, Dell’s PC business survives only through mergers, joint ventures, or partial divestitures, allowing the company to focus on its profitable AI‑server empire.

The New Hierarchy by 2030
CES analysts agreed on the broad outline of the decade ahead:
• Apple and Lenovo become mega giants, far larger and more dominant than they are today
• HP and Dell shrink to less than half their current size
• Acer and MSI exit the market entirely
• AI PCs replace traditional laptops
• Control of silicon and memory determines survival


How much walgreens by itself is worth?

When separating from WBA, market cap for the combined WBA was worth 8 billion. After they separated into individual companies like Walgreens, Boots, Alliance, Village MD etc, how much do you think just Walgreens by itself is worth? I don’t think it would be simply divide by three. Walgreens might be biggest out of all and do you think might be worth at least 4 billion out of 8 billion? If the WBA stock was still trading, would it be like $5.5 (half of what it was during buyout)? If that is true, would Walgreen’s current market cap be around 2.5 billion?


The “market” isn’t buying it

Since the notorious August 1st email, the “market” has delivered a clear verdict on T. While the S&P 500 has climbed roughly 10 %, AT&T stock has fallen almost 20 % since that day, wiping out billions in value. Whatever leadership thought this “market-based” posture would signal to investors, it failed. The market rejected it. Facts not feelings.

Culture cannot be spoken into existence. It is not created through emails, town halls, slogans, and archaic RTO mandates. Culture is the feeling employees have when they walk in every day. Right now that feeling is animosity, distrust, and exhaustion. Five-day RTO did not strengthen culture. It exposed how disconnected leadership is from the workforce.

When employee reality is ignored, culture erodes. When culture erodes, execution suffers. When execution suffers, investors respond. That chain reaction is visible, measurable, and ongoing.


Integration - Is the Market Responding?

I wanted to understand whether the market is actually buying our integration narrative—or whether repeating it is meaningfully changing how investors who trade PSX perceive the company.

To test this, I analyzed daily share price correlations between PSX and a set of peers—MPC, VLO, DINO, and PBF, with XOM and CVX included as examples of truly integrated energy companies—across 5-, 3-, 2-, and 1-year periods.

The results are clear and consistent: PSX trades most like Valero, and that relationship is stable across every time horizon. Only in the most recent one-year period does PSX trade marginally more like MPC, but even then, its correlation with refining peers increased, not decreased. In contrast, correlations with XOM and CVX remain materially lower and largely unchanged over time.

The market is telling us something straightforward: PSX is viewed as a refiner, and that perception is not evolving.

Rather than fighting that reality, we should consider embracing it—making the hard choices required to present PSX as a pure-play refining and marketing company, one that investors can clearly benchmark against peers and value accordingly.


Shareholder Value

Over the last 30 days our stock has lost just under $5B in value. Clearly the market can see through the smoke screen that is being throwing up! Sadly, the layoffs aren’t starting where they should…with Stinkey!


Who will hold the bag?

When investors realize this company was not reborn, but callously dismembered like Hannibal Lector victim leaving nothing but employee ill-will, it will be too late.

Eliza is a solution seeking a problem, all gains falsely propped up through a culture of degradation and constructive termination. Market makers cant see this yet, but they will.

You know what you have done.


Nike Stock

Outside of ESPP contributors, employees being rewarded with stocks, executives; do people actually buy Nike stock? Trying to figure out why anyone would considering the results of the last 4 years especially when you compare it to the broader market where everyone else is up bigly it seems.

Seems like you could have thrown money at literally anything else and made money but still lost somehow on Nike. I guess I’m asking why any large investment firm or private investor would currently invest in Nike? Like what do they see that I am missing.


CVE stock price???

Well the boost to the stock price was certainly short by lived. Strathcona made out like bandits. They didn’t even get MEG and they had a higher and more sustained bump to share price than Cenovus. It would seem the street clearly doesn’t like CVE’s messaging and/or the ones delivering the message.


ACA enrollment down 191,000 in GA

From 1.5 million to 1.3 million. Not terrible, until you read further that 2/3 of that 1.3 million were automatically enrolled from 2025. Which means they likely haven’t paid the premium yet. Thus, that 1.3 number is expected to drop once the bill comes due and is significantly higher than 2025. Waiting to see what the numbers in Florida look like.


OT stocks

What is everyone planning to do with their OT stocks (from ESPP or other means). Sell? Hold? It is at a much better price than what is was before. so just sell and invest in some better company, or could this go higher than what it is currently. When OT slowly divests the non-core portions, would it lead to reduction in stock value?


Goldman Sachs says Layoff Announcements Are No Longer Viewed Positively by Markets

Recent research suggests equity markets are responding negatively to corporate layoff announcements, regardless of whether companies cite cost savings, AI-driven efficiency, or restructuring.

Firms announcing layoffs have underperformed the broader market and show weaker financial trends than peers, including higher debt and interest expense growth and slower profit growth. This has led investors to question whether layoffs reflect deeper operational pressures rather than productivity gains, even as broader corporate balance sheets remain relatively healthy

Read more here: https://www.marketwatch.com/story/wall-street-is-no-longer-rewarding-job-cut-announcements-goldman-analysis-finds-a60c87a4


To all of us RIFFED we have the knowledge to start build a consulting company

we can be creating a company in the consulting industry, about strategy, process, whatever, to bring our intelligence to the market

we know Vz weaknesses and we know the market, we need one leader to start it

anyone ?

we could also crush the wholesale market ....


Things are not looking good

The year the Big Tech job market cracked

  • Tech job seekers faced a tough market in 2025 amid layoffs and slow hiring.
  • Cuts at Big Tech firms like Amazon and Microsoft helped fuel fierce competition.
  • Business Insider asked tech job seekers about their challenges — and how some overcame them.

https://www.businessinsider.com/big-tech-job-market-hiring-cracked-layoffs-amazon-microsoft-2025-12


Hostile Bid in Progress

What happened Paramount launched a $108.4 billion hostile bid for Warner Bros Discovery, outbidding Netflix's $72 billion offer. Paramount's bid includes $18 billion more in cash and aims to challenge Netflix's dominance.
Why it matters This bid could impact streaming services, movie theaters, and consumers by enhancing competition. It also raises antitrust concerns due to the consolidation of major television operators.


Key details


• When: Paramount's bid was launched on Monday, December 8.
• Who: Paramount Skydance (PSKY.O), Netflix (NFLX.O), Warner Bros Discovery (WBD.O).


• Numbers: Paramount's bid is $108.4 billion, including $18 billion more in cash than Netflix's offer. Paramount's offer is $30 per share, a 139% premium over Warner Bros Discovery's undisturbed stock price. Netflix's offer is $27.75 per share, mixing cash and stock.
• Financing: Paramount's offer includes financing from Affinity Partners (Jared Kushner's firm), Middle Eastern government-run investment funds, and the Ellison family.
• Regulatory concerns: Paramount's offer may face antitrust scrutiny, as it would create a major television operator and increase market share.


• Market reaction: Paramount shares up 7.7%, Warner Bros Discovery up 5%, Netflix shares down 4.5%.


• Next steps: Paramount will appeal to shareholders, regulators, and politicians to challenge Netflix's bid. The battle may become prolonged.

https://www.reuters.com/legal/transactional/paramount-makes-1084-billion-bid-warner-bros-discovery-2025-12-08/


WBD Sale - a total disaster for Stink

Stank keeps talking about being a “market-based company,” but the market has already delivered its verdict, and it is absolutely brutal.

Just look at the scoreboard.

AT&T’s market cap today is around $180B.
Netflix, a company AT&T once thought it could compete with through the WarnerMedia empire, is sitting around $430B+. Netflix is worth more than double AT&T. That alone tells you everything about which company the market believes in.

And when you look at how we got here, it’s even worse.

AT&T bought Time Warner for roughly $85B, swallowed billions more in debt, tried to play Hollywood, mismanaged the integration, then spun it off in 2022 into Warner Bros Discovery wiping out over 50 of billion in value.
WBD stock fell as low as $7.50, and even now AT&T stock at roughly $25.46 is trading below WBD’s $25.80.
An $85B asset turned into a fraction of its worth, and now WBD is being shopped to Netflix for double compared to the sale and divestiture price.

Billions burned.

A strategic failure so large business schools literally teach it.
And the company has spent the last five years trying to claw its way back to where it was BEFORE all these “visionary decisions.”

So when Stankey and the leadership team brag about “market-based” strategy, it’s a joke the actual market doesn’t find funny. Wall Street sees right through it. Investors have no confidence. Employees have no confidence. The stock has gone nowhere during his tenure, and the company’s major bets have been disasters.

If AT&T truly wants to operate like a modern, market-led company, then start acting like one beginning with ending his latest “visionary decision” - the outdated RTO obsession that adds cost, crushes morale, pushes out top talent, and delivers zero measurable business benefit. Wait too long and you’ll never recover from that too.

Real market-based companies reduce overhead, increase flexibility, retain talent, and innovate.
AT&T is doing the opposite and the market has priced that in loud and clear.

Leadership can keep talking about culture, presence, and “the plan,” but the numbers don’t lie.
The strategy isn’t working.
And the market knows it.
And so do we.


JP Morgan Says Oil Prices Could Plunge Into $30s by 2027

By Michael Kern - Nov 24, 2025, 9:00 AM CST
JP Morgan predicts the international crude benchmark, Brent, could drop into the $30s per barrel by 2027 due to an overwhelming market oversupply.

Goldman Sachs forecasts the U.S. benchmark WTI Crude will average $53 per barrel in 2026 amid a 2 million bpd surplus and advises investors to short oil right now.

The oil market is expected to rebalance in 2027 after the current large supply wave, including output from OPEC+ and non-OPEC producers in the Americas, works through the system.

The international crude benchmark, Brent, could dip to the $30s per barrel handle by 2027 as oversupply could overwhelm the market, according to a JP Morgan forecast posted by users on X.

Brent Crude prices have dropped by 14% year to date, and traded relatively stable at $62.59 per barrel early on Monday, as the oil market awaits news from the renewed negotiations on peace in Ukraine.

The U.S. and Ukraine held on Sunday in Geneva what the two sides described as “highly productive” talks and agreed to continue intensive work on a “refined” peace plan, which the U.S. first proposed last week.

Despite the fears of a glut, analysts and investment banks don’t see oil prices moving down to $40 or below, even as oil is set to decline in the near term with strong supply from OPEC+ and the non-OPEC producers in the Americas.

Peace in Ukraine could also weigh on energy prices as some sanctions and restrictions on Russia could be eased, analysts say.

Oil prices are set to further drop into next year from current levels amid a large surplus on the market, with the U.S. benchmark WTI Crude expected to average $53 per barrel in 2026, according to Goldman Sachs.

The investment bank’s call for next year is that oil prices are on track for further declines and investors should short oil right now, Daan Struyven, co-head of global commodities research at Goldman Sachs, told CNBC last week.

The surplus next year will be 2 million bpd on average, Goldman reckons, but notes that 2026 will be the last year of the current big supply wave hitting the market.

The oil market is set to rebalance in 2027 as 2026 will see “the last big oil supply wave the market has to work through,” Goldman’s Struyven added.

https://oilprice.com/Energy/Oil-Prices/JP-Morgan-Says-Oil-Prices-Could-Plunge-Into-30s-by-2027.html


Job Market

I’ve been out looking for the past 9 months. It’s tough out there with very few places hiring and if they are salaries way below what I was making. While my work wasn’t always great and I had things to complain about, my advice is try to keep what you have because the options are slim. I thought it would be a lot easier and now would come back in a second and even with a smaller bonus would do better than what others are offering right now.


EV Battery Industry In Decline

What is RA's exposure to the EV Battery industry and how will it react to the reduction in demand? Is RA still using AlixPartners as consultants?

From a recent automotive news article:

Overcapacity Ahead

AlixPartners speculates that global production of EV batteries will be roughly three times greater than demand for EVs in 2030. By that time, EV battery production capacity in North America is expected to roughly quadruple.

According to Nikkei Asia, many manufacturers are already scaling back their ambitious battery production plans. Ford, one of the most aggressive investors in U.S. battery manufacturing, is a prime example. The company is building a $5.8 billion facility in Kentucky with its partner SK On, which is expected to employ about 5,500 people by 2030.

However, the Blue Oval already reduced its planned battery capacity by 35 percent. It also recently halted production of the F-150 Lightning indefinitely due to dwindling demand in North America.

General Motors has also been forced to make changes. It has been confirmed that 1,550 workers at the battery plants it operates alongside LG Energy Solution in Ohio and Tennessee will be sacked due to “slower near-term EV adoption and an evolving regulatory environment.”

Nikkei Asia also reports that Panasonic opened a new battery factory in Kansas in July, but has yet to say when it will reach full-scale production. Initially, it was expected to hit this mark by the end of the 2026 fiscal year. However, as a major supplier to Tesla, it has been affected by the fall in demand for EVs as well.

Slowing EV sales in the States have led to the cancellation of some endeavors entirely. T1 Energy was planning to build a battery plant in Georgia, but has since canned the project.