HP announced on Sunday its release of the Slate 7. A 7-inch tablet that blends together a number of features from a variety of companies, the Slate runs on Google’s (NASDAQ:GOOG) Android operating system. Additionally, the Slate has embedded sound-enhancing technology licensed from Beats Electronics LLC, and it has a 1.6-gigahertz dual-core processor from ARM Holdings Plc (NASDAQ:ARMH).

CHEAT SHEET Analysis: Is the Slate a Catalyst for HP?

One of the core components of our CHEAT SHEET Financial Analysis focuses on catalysts for a company’s stock. The 7-inch Slate tablet, which should compete against the likes of Apple’s (NASDAQ:AAPL) iPad Mini, Amazon’s (NASDAQ:AMZN) 7-inch Kindle Fire and Google’s own Nexus 7, shows a commitment from HP to be competitive in hyper-competitive markets. Additionally, the announcement marks the beginning of Whitman’s plans to make a splash, so the best may be yet to come…

How the Slate will actually fare in the market is more difficult to uncover. It is certainly priced competitively at just $169, especially when compared to Google’s Nexus 7 ($199) and Apple’s iPad Mini ($329). However, those brands have an established customer base, while HP is only now getting into the action.

One thing is certain, though. HP has turned its declining stock price around and started shifting its focus away from personal computers towards more popular items. This may be the trough investors are hoping for as Whitman has promised more innovations to come.

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