Honestly, I don't think you can attribute the theoretical pending loss to Apple iPad demand. If HP posts a big loss, it will be due to two issues: 1. The overall world economy. 2. HP's products.
Sales. Consumer PC sales are down across the board due to the fact that people have no money to spend. Sales to companies are way down (HP's biggest source of income) because companies are slashing budgets due to the economy. Companies & individuals that do have money, spend it on Apple products. All the other people (the lowest common denominator) who the PC industry has historically targeted, don't have any money. And then the kinds of people who can't bring themselves to buy high quality products when times are good, are certainly not going to be buying anything now.
Products. HP needs to rethink their entire product line(s). Simplify. Take advantage of economies of scale. For example, there are literally dozens of preconfigured DL-3xx servers offered, and a near infinite number of customizations. WHY?!? HP needs to shrink that down to just TWO (a 1U and a 2U). Preconfigure nothing. Start with the chassis+motherboard, and then customize it all online... Why do you need a dozen CPU choices? Why do you need ~50 different choices of RAM? Why do you need to choose between 8 different power supplies? Answer: You don't.
For the CPU(s) have a choice of 3 - one low end, one mid-performance/efficiency, and one high end. Choose your CPU type, then choose quantity (1-4). For RAM, have a choice of maybe 3 types, but with smart selection so that you can't pair the wrong type of RAM with the CPU choice. Choose your RAM type (registered, non), then choose quantity (8-192GB). Eliminate the RAID choice entirely - make the best RAID product a standard feature on all systems, it's on the logic board now anyway. For power supplies, 2 choices (smart selection depending on power consumption of CPUs, RAM, etc).
Don't get me started on HP laptops. Our company uses them. They are not always reliable. And they're big, thick, and ugly. Try to look one up on HP.com... There are so many models, it's impossible to keep track of what's already out there, let alone what new models one should choose from. Simplify! HP needs to cut down all the models to just FOUR - one each of 11, 13, 15, & 17". Customize online. Might as well keep the design aesthetic that looks like a MacBook, but make them black anodized aluminum to keep the corporate suits happy and so they don't look quite so much like a direct rip-off of Apple's designs.
HP has the same problem with too many models of desktop PCs... And printers... And...