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HP: Credit crunch? What credit crunch?

For now, at least, Hewlett-Packard is immune from the financial turmoil that's hit other sectors. The company posted some impressive earnings yesterday at a time when other tech giants are being hit by the mortgage crisis. Strong notebook sales contributed to the good news.

Part of the reason is that HP is somewhat isolated from the financial services sector, unlike Cisco Systems, which counts banks among its top 20 customers. But HP wants that kind of business. CEO Mark Hurd said yesterday that the company wants more exposure to financial services. "We see that as a big opportunity for us," he said. [readmore]

HP is cruising on solid PC sales and falling prices for computer components. But the company warned that it won't see as much sales growth in the future. The company's 2008 forecast predicts growth of about half the near 14% growth it saw in the previous year.

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