Dell Shares Tumble As Barclays Questions AI Valuations Arabian Post
The stock closed at approximately $508, marking one of its steepest daily declines in more than a year. The sell-off followed Barclays analyst Tim Long's decision to lower Dell's investment rating from overweight to equal weight and reduce its price target to $574 from $603.
The downgrade also affected Hewlett Packard Enterprise and NetApp, whose shares declined sharply as investors reassessed expectations for artificial intelligence infrastructure spending. Barclays questioned whether rising hardware revenues reflected accelerating enterprise adoption of AI or higher prices driven by shortages of memory components.
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