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I'd Still be a Buyer of HP Stock: BlackRock's Doll

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Hewlett-Packard shares plunged on Monday following CEO Mark Hurd’s resignation last week after an investigation found that he had falsified expense reportsto conceal a relationship with a female contractor. Robert Doll, vice chairman and chief equity strategist at BlackRock discussed his insights.

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Bob Doll on the Markets

“There are enough good things going on at HP and the stock is cheap enough that you can give it the benefit of the doubt — so I’d be a better buyer especially if there’s any more weakness,” Doll told CNBC. “I’m looking to add to the position, given the weakness we’ve seen.”

In addition to HP , Doll noted that there has been “significant weakness” among the large blue-chip tech companies, including Microsoft and Intel , as the execution of the topline growth has been in “a bit of a question.”

“I’ve been nibbling away at them,” Doll said of the firms. “These higher-quality, strong balance sheets, good free-cash flow [firms] make sense in this environment.”

Scorecard—What He Said:

  • Doll's Previous Appearance on CNBC (Aug. 2, 2010)

More on Hewlett-Packard:

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CNBC Slideshows:

  • Sex Scandals of the Powerful and Famous

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Disclosures:

Doll's firm own shares of HPQ.

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