Wow. Explains a whole lot...
Fun observation: the PC market that's totally dying, which was absolutely proven by HP's decision to leave it, which they didn't actually do, made up the majority of HP's revenue (39.6%) even in their lackluster 2011 business year. (Servers for all that cloud stuff that's totally going to replace PCs, as conclusively proven by the aforementioned retracted decision, made up slightly over half that.)