Neri Antonio F sold $17.1M of HPE (indirect holdings)

Dell (DELL) shares fell 11.4% on the 14th, closing at $507.43. Barclays downgraded Dell, Hewlett Packard Enterprise (HPE), and NetApp (NTAP) to 'Neutral,' citing overvaluation and lack of enterprise AI spending growth. Dell's AI-optimized server business is projected to reach $75B in revenue, but growth may slow if memory prices decline. Other data center stocks like Oracle (ORCL) and CoreWeave (CRWV) also dropped.

Dell shares fell 11% on Wednesday, with peers like Hewlett-Packard Enterprise, Oracle, and Super Micro also declining. Barclays downgraded Dell, HPE, and NetApp, citing uncertainty around enterprise AI spending and timing. The firm noted that only 5% of IT budgets are allocated for AI, and memory price normalization could strain infrastructure-linked revenue.

Nasdaq fell 1.88% on Wednesday after hotter-than-expected inflation data raised concerns about further Fed rate hikes. Oracle dropped 8.8%, CoreWeave 15%, and Nebius 10%. Dell and HPE also declined following a Barclays downgrade. The S&P 500 fell 1.11%, and the Dow Jones lost 0.09%.

Dell's shares fell 11.3% to $507.93 after Barclays downgraded the stock, citing concerns about AI-driven growth and memory price normalization. The stock had gained 300% this year. Barclays maintains a $574 target and expects AI server revenue to triple to $75 billion this fiscal year. Higher Treasury yields and political factors also impacted the stock.

Dell Technologies shares fell 11% after Barclays downgraded it, Hewlett-Packard Enterprise, and NetApp to 'hold' due to concerns about AI adoption. Barclays cited global memory shortages and rising costs as key factors. Other data center equipment makers also declined, with Oracle down 9% and CoreWeave down 15%.

Dell shares fell 11% on Wednesday, dragging down other data center equipment stocks, as concerns grew about enterprise AI spending. Barclays downgraded Dell, HPE, and NetApp, citing uncertainty over AI timing and attributing recent revenue growth to memory shortages. Oracle dropped 9%, and memory-related stocks also declined following news from a Chinese chipmaker.