Turns out, Meg Whitman is no miracle worker.

FORBES: HP: Another CEO, Another Warning, Another Down Day

"With nearly 10 billion devices connected to the internet and predictions for exponential growth, we've reached a point where the space, power and cost demands of traditional technology are no longer sustainable, " said Meg Whitman, president and chief executive officer, HP.

ENGADGET: HP Moonshot server class leaves concept, to power commercial-grade internet of the future

Hewlett-Packard CEO Meg Whitman is on stage at the Morgan Stanley technology conference in San Francisco this afternoon, where she no doubt will try to persuade investors that the turnaround at the IT giant is well underway.

FORBES: HP CEO Whitman: Live at The Morgan Stanley Tech Conference (Updated)