HP is irrelevant, Palm is irrelevant
HP is a mausoleum for innovation. Palm will be embalmed, put on display, and forgotten by the regular consumer. WebOS products will smell vaguely of yeast and dirty underwear.
Anything that people carry with them, like a purse or cellphone, will always be subject to fashion. HP is the anti-sexy.
I think that most of HP's business is grandma giving the wrong gift to the kids because her classic LaserJet still works and she doesn't know any better. Same goes for geriatric IT managers.