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Barchart
Jabran Kundi

Dell Stock Got Hit by a Downgrade. CoreWeave’s Debt Problem Could Matter More Than You Think.

Dell CoreWeave Artificial Intelligence Barclays Hewlett Packard Enterprise Dell Technologies

Dell Technologies (DELL) stock has had a rough week. Shares of DELL fell more than 11% on Oct. 14 and another 7% the next day. The drop came primarily after Barclays downgraded DELL stock to “Equal Weight” and cut its price target from $603 to $574. The firm also downgraded Dell's rival, Hewlett Packard Enterprise (HPE), causing HPE shares to dip sharply as well.

Barclays’ main argument is that businesses haven’t meaningfully stepped up their artificial intelligence (AI) spending yet. Analysts also believe that part of Dell’s revenue growth is coming from a global memory shortage pushing component prices higher rather than from new demand.

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