Investing.com -- HP Inc. (NYSE: HPQ) shares stumbled 2% in Monday morning trading after the company delivered a sobering reality check for the personal computer industry. In a fresh SEC filing, the Palo Alto heavyweight cautioned that it expects global PC unit volumes to shrink by mid-single digits in calendar 2027 compared to 2026.

This projection aligns with current third-party industry forecasts. HP noted that it remains in its planning period for fiscal 2027 and is not providing financial guidance for the fiscal year at this time. The company previously stated on August 26, 2026, during its third quarter fiscal 2026 earnings conference call, that it was premature to provide specifics on its outlook for the fiscal year, including PC unit volumes.

The company cautioned that its planning assumption depends on market performance in the second half of calendar 2026, which remains fluid and is subject to change.

The disclosure comes as the PC market faces ongoing uncertainty, with HP’s outlook suggesting continued headwinds for the industry in the coming year.