HP Inc. Has a Memory Problem. Financial Forecasts Take a Hit.

The rise of artificial intelligence is turning out to be a problem for HP Inc. on two fronts. HP Inc. CEO said skyrocketing prices for memory chips will be a “fairly significant” drag on its results for the current fiscal year as the company issued financial guidance that fell short of what analysts had expected. While results for the computer company’s fiscal fourth quarter exceeded forecasts, management said it expects fiscal first-quarter adjusted earnings to be between 73 cents and 81 cents a share.