On the back of much stronger server and personal computer sales, in addition to a revival of its printing business, Hewlett-Packard Co. managed to post better-than-expected results, a development which led to the company hiking its complete year outlook.

Analysts have now stressed that HP is in a good position to benefit from an expected rise in enterprise technology spending in the ongoing year, as businesses go on to replace old and aging equipment.

HP has shared that the "so-called" refresh cycle is underway, with more strength expected during the year's second-half.

For the year 2010, the company has predicted earnings of about $4.37 to $4.44 per share, on revenue of $121.5 Billion to $122.5 Billion, a substantial rise when compared to the earnings of $4.25 to $4.35 a share, on $118 Billion to $119 Billion worth of revenue.

"IT (information technology) is starting to come back. We're seeing it right now in the numbers here. I think 2010 is going to be a good year for tech", said Collins Stewart analyst Louis Miscioscia.