Microsoft (MSFT), H-P (HPQ) Rise Following Intel's (INTC) Q1 Results

Microsoft (Nasdaq: MSFT) and Hewlett-Packard (NYSE: HPQ) shares are positive Wednesday following strong Q114 results from partner Intel (Nasdaq: INTC).

While Intel's overall numbers were decent, there is one metric to point out: PC Client Group. The company posted just a 1 percent year-over-year dip in revenue to $7.94 billion, while net income rose 12.6 percent to $2.80 billion.

Notably, IDC recently pointed out that global PC shipments fell 4.4 percent during Q114.

Intel's PC Client Group encompasses notebook (including Ultrabook devices and 2 in 1 systems) and the desktop (including all-in-ones and high-end enthusiast PCs); wireless and wired connectivity products; as well as home gateway and set-top box components.

What does the data mean? It could suggest a flattening of the decline seen in PC sales due to competition from tablets and other portables. Microsoft would move more on this news given its operating system is included in a slew of PCs and notebooks/Ultrabooks alike, while H-P still produces its own hardware.

Microsoft is up 0.7 percent and H-P is up 0.3 percent in late-morning trading.

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