HPE sees strong AI-driven growth with $6.3B backlog and 40% revenue jump, trading below peers at P/E ~15.6.

Hewlett Packard Enterprise (HPE) is experiencing significant growth in AI infrastructure demand beyond hyperscalers, reflected in a record $6.3 billion order backlog and a 40% year-over-year revenue increase. Despite these strong fundamentals, HPE's price-to-earnings ratio remains around 15.6, lower than its peers, suggesting potential undervaluation. The company is rated a Strong Buy with a target price of $80 per share, contingent on confirmation of growth in the upcoming Q3 report. This growth signals a durable shift in enterprise AI spending, positioning HPE well for the future.