GoKawiilDell shares drop 11% as Barclays downgrades data center hardware stocks
Dell Technologies stock fell 11% on Wednesday, pulling down Hewlett-Packard Enterprise, Oracle, Super Micro and NetApp amid worries that enterprise AI spending won't match the scale of the ongoing data center buildout. Barclays analysts cut ratings on Dell, HPE and NetApp from buy to hold, saying they see no 'meaningful AI inflection' in enterprise demand and attributing recent revenue gains largely to a global memory shortage rather than AI adoption.