Hewlett Packard Enterpriseit is (HPE – Free Report), subsidiary Aruba Networks recently announced that San Francisco-based basketball team Golden State Warriors have deployed Aruba Wi-Fi 6E Access Points (APs) at their home site, the Chase Center. This will ensure increased bandwidth availability in the arena for fan activities such as streaming and downloading content during games, concerts, events and for stadium operations such as implementations of the Internet of Things (IoT) and experience-related services such as on-site ordering. and contactless payment.
With this implementation, Chase Center becomes the first live entertainment arena in North America to feature Wi-Fi 6E. Currently, the venue has over 250 active 6E Wi-Fi hotspots in the bowl seating section. Access points allow the site to centrally configure and automatically enforce role-based policies across wired and wireless networks. These are integrated with Bluetooth Low Energy and Zigbee support which facilitates the deployment and management of IoT, which includes asset tracking, security solutions and sensors.
According to the agreement, Chase Center further adopts HPE Aruba’s patented ultra-tri-band filtering that dynamically adjusts the available channels to eliminate signal interference and performance degradation. This will allow the Golden State Warriors to benefit from increased capacity, wider channels, reduced signal interference from 6 GHz and the Aruba Open Locate which produces highly accurate indoor location services.
HPE benefited from strong executions in clearing backlogs, improving the supply chain and increasing customer acceptance. Its efforts to focus on higher-margin offerings like Intelligent Edge and Aruba Central Hyperconverged Infrastructure are helping its bottom line. Its goal of saving at least $800 million per year by the end of fiscal year 2022 through a cost optimization plan is positive.
In September, King Abdullah University of Science and Technology (“KAUST”) selected the HPE Cray EX computing system to build the most powerful supercomputer in the Middle East, Shaheen III.
KAUST intends to accelerate scientific discovery in the Middle East and enable large-scale artificial intelligence (AI) through advanced neural network modeling, simulation, analysis and training capabilities with this supercomputer. It will provide information on areas such as clean burning, Red Sea ecosystems, the Arabian tectonic plate and climate events.
Hewlett Packard sees AI, industrial IoT and distributed computing as the next big markets. In 2018, the company decided to invest $4 billion through 2022 to improve its capabilities in the aforementioned space and tied these companies to its fast-growing networking business, Aruba Networks.
Shares of the company have fallen 13% over the past year.
Zacks ranking and key picks
Hewlett Packard currently carries a Zacks Rank #3 (Hold).
Some higher-ranked stocks in the broader IT and technology sector are Keysight-Technologies (KEYS – free report), International Digi (DGII – free report) and Baidu (BIDU – Free Report), each displaying a Zacks Rank #1 (Strong Buy). You can see the full list of today’s Zacks #1 Rank stocks here.
Zacks’ consensus estimate for Keysight’s fourth-quarter fiscal 2022 earnings has been revised 10 cents north to $1.99 per share in the past 60 days. For fiscal 2022, earnings estimates have moved 30 cents north to $7.47 per share in the past 60 days.
KEYS earnings have exceeded the Zacks consensus estimate in each of the previous four quarters, with the average surprise being 9.32%. Shares of the company have climbed 4.2% over the past year.
Zacks’ consensus estimate for Digi’s fourth-quarter fiscal 2022 earnings rose 2 cents to 42 cents per share over the past 60 days. For fiscal 2022, earnings estimates rose 3.2% to $1.61 per share in the past 30 days.
DGII’s earnings have exceeded the Zacks consensus estimate in each of the previous four quarters, with the average surprise being 28.6%. Shares of the company are up 78.3% over the past year.
Zacks’ consensus estimate for Baidu’s third-quarter 2022 earnings was revised 46 cents south to $2.51 per share over the past 60 days. For 2022, earnings estimates rose 16.2% north to $9.16 per share over the past 60 days.
Baidu’s earnings have exceeded the Zacks consensus estimate in each of the previous four quarters, with the average surprise being 58.1%. Shares of BIDU have fallen 24.3% over the past year.