EXHIBIT 23.2

              CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS


   We consent to the reference to our firm under the caption "Experts" included
in Amendment No. 2 to the Registration Statement (Form S-4 No. 333-73786) and
related Prospectus of Hewlett-Packard Company for the registration of shares of
its common stock and contingent value rights and to the incorporation by
reference therein of our report dated November 13, 2001, except for Note 19, as
to which the date is December 6, 2001, with respect to the consolidated
financial statements and schedule of Hewlett-Packard Company included in its
Annual Report on Form 10-K/A for the year ended October 31, 2001, filed with
the Securities and Exchange Commission.


                                          /s/  Ernst & Young LLP

San Jose, California

February 11, 2002