Steve Jobs Thought Hewlett-Packard was Being "Dismembered and Destroyed"

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Hewlett-Packard
HPQ
is getting hammered by investors who are concerned about the
accounting irregularities
that occurred within Autonomy before the PC maker acquired the firm. Shares are currently down more than 12 percent.
This is the latest of many troubles at H-P. The company has traded down all year, losing more than 18 percent of its value in the last month alone. Year-to-date, H-P is down more than 55 percent. Multiple researchers, including IDC and Gartner
IT
, reported that H-P
dropped
to
second place
after Lenovo became the world's largest manufacturer of PCs. Going into 2012, H-P CEO Meg Whitman
reportedly admitted
that a competitor would lead the market this year. It seems that she was right. Before this mess ever occurred, however, Apple
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AAPL
co-founder Steve Jobs lamented the demise of H-P. "Hewlett and Packard built a great company, and they thought they left it in good hands," he said, as
quoted
by Walter Isaacson (the author of the only official Steve Jobs biography). "But now it's being dismembered and destroyed. It's tragic. I hope I've left a stronger legacy so that will never happen at Apple." While Apple is certainly in a better position than H-P, the Cupertino, California-based tech giant continues to decline in value. After a
one-day spike
, investors have chosen to abandon Apple again. The stock is trading down nearly one percent this afternoon, adding to the 15 percent decline that has hindered Apple's growth over the last three months. Year-to-date, Apple is still up more than 36 percent.
Follow me @LouisBedigianBZ
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Posted In: NewsRumorsManagementTechGeneralAppleAutonomyhewlett-packardMeg WhitmanSteve JobsWalter Isaacson
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