Dell shares fell about 11% on October 14 after Barclays cut its ratings on Dell, HPE and NetApp "after a significant run and on enterprise AI timing," CNBC reported. The analysts said they had not seen a meaningful AI inflection in enterprise spending, and wrote that "the strong enterprise revenues are more of a function of memory costs than a move to enterprise AI at this time."
Dell had been up more than 300% this year before the drop, and selling spread across data center equipment makers. On October 15 Dell fell a further 9% as a broader AI-stock sell-off continued on financing and memory oversupply worries.
Source: CNBC