EXHIBIT 23.1
 
                      CONSENT OF INDEPENDENT ACCOUNTANTS
 
  We hereby consent to the incorporation by reference in the Prospectus
constituting part of this Registration Statement on Form S-3 of Hewlett-
Packard Company of our report dated November 18, 1996, which appears on page
52 of Hewlett-Packard's 1996 Annual Report to Shareholders, which is
incorporated by reference in its Annual Report on Form 10-K for the year ended
October 31, 1996. We also consent to the reference to us under the heading
"Experts" in such Prospectus.
 
PRICE WATERHOUSE LLP
 
San Jose, California
January 9, 1998