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Did 3D Systems Get An All Clear From HP?


3D Systems continues to produce internally-created problems due to the difficulty of integrating numerous acquisitions.

The HP threat continues to be more fear than reality.

3D Systems offers a very attractive valuation, with several signals suggesting a trough in the stock.

Whether related or not, the 3-D printing stocks hit a major speed bump right around the announced entry of printing giant Hewlett-Packard (NYSE:HPQ) into the sector. The famous press conference of the entry of the tech giant into the 3-D printing space hasn't actually led to HP selling printers. The promise of the cheap and fast printers though are contributing to an unexpected pause in the investment cycle.

3D Systems (NYSE:DDD) trades at multi-year lows and the downfall can be traced to the moment (see "Is Hewlett-Packard Really A 3-D Printing Threat?") that HP entered the sector with a product of the future. As predicted in the original thesis, HP hasn't actually done anything in the sector yet. The impact to the stocks of 3D Systems and top competitor Stratasys (NASDAQ:SSYS) since that October announcement though are very visible in the chart. The stocks have seen total annihilation since the threat of HP became real.

The odd part though is that the recent earnings...