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Investors Rebel Against H-P Plan

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BY JUSTIN SCHECK AND JOANN S. LUBLIN

Investors abandoned Hewlett-Packard Co. after its plan to get out of the personal-computer business left serious questions about the technology company's strategy.

H-P shares plunged 20% Friday to $23.60, erasing about $12 billion in market value, and leaving the stock near six-year lows.

It capped a tumultuous week for the tech industry, which began with Google Inc.'s surprise $12.5 billion purchase of Motorola's cellphone business, as Silicon Valley giants react to the shift away from computers toward smaller mobile devices.

H-P shocked investors Thursday when it said it is looking to sell or spin off its PC business, the world's ...

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