In September 2016, the U.S. will be gearing up to elect a new president, and Hewlett-Packard will have completed its turnaround to the point where revenues are in line with GDP.

That's according to HP CEO Meg Whitman who, in a meeting with Wall Street analysts, painted a picture of financial turmoil at the company that was much worse than expected.

HP's guidance for fiscal 2013 came in well short of Wall Street's expectations. HP expects non-GAAP profit of $3.40 to $3.60 per share for fiscal 2013, compared to the consensus analyst estimate of $4.05. In GAAP terms, HP is expecting $2.10 to $2.30 a share after charges of $1.30 per share.

HP shares dropped $2.20, or more than 12 percent Wednesday to $14.93, their lowest level since 2003.

Paul Allen likes Windows 8 overall and thinks it will succeed. That said, he has some reservations about the Windows 8 user interface.

"I did encounter some puzzling aspects of Windows 8. The bimodal user experience can introduce confusion, especially when two versions of the same application -- such as Internet Explorer -- can be opened and run simultaneously," Allen said in a blog post.

The fact that the Microsoft co-founder is using words like "confusing" and "puzzling" should be at least a bit concerning to a company placing such huge bets on the OS.

Nokia tapped AT&T as its exclusive carrier for its Lumia 920 smartphone, which means Verizon customers that might want to get their hands on the impressive new Windows Phone 8 device will have to seethe quietly until the deal expires. Nokia has pinned its hopes to Windows Phone, so it better have received an amazing deal from AT&T, because Verizon is, you know, the country's largest carrier.

After enduring the embarrassment of being caught faking a promotional video for the Lumia 920, Nokia is once again making a decision that has some would-be customers scratching their heads.

Google revealed that additional Motorola Mobility layoffs are on the way, along with a third-quarter charge of $300 million -- $25 million more than originally forecast -- due to increased employee severance packages.

Google in August said it plans to cut 4,000 jobs from Motorola Mobility, and the search firm also expects to take a $90 million hit for broader restructuring charges over the course of the next year. Of these charges, $40 million are coming in its fiscal third quarter.

Credit Suisse analyst Kulbinder Garcha does not think splitting up components of Research In Motion's business will make them more attractive to a would-be acquirer.

"A break up is possible," Garcha told All Things Digital. "[But] we question the quality of the underlying patent portfolio and also believe that converting RIM’s existing network operations center for other OS platforms may require a high level of effort for minimal functionality improvement."