Dell (DELL) plunges ~11%, worst day since April 2025, as Barclays downgrade triggers selloff (Oct 14)
What happened
Dell shares plunged nearly 11% on Wednesday to about $512.65, on pace for the stock's largest single-day percentage decline since April 3, 2025, when it fell 19%, per Dow Jones Market Data. The selloff followed Barclays' downgrade of Dell, HPE, and NetApp to Equal Weight (Dell price target cut to $574 from $603) on the view that there is no 'meaningful AI inflection yet' in enterprise spending and that revenue strength reflects memory-cost pass-through. Dell undercut its 10-week moving average as the decline accelerated into midday alongside a broad market drop after the hot September CPI report.
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Start your free 14-day trialWho’s affected
- Dell (DELL): direct — fell nearly 11% to ~$512.65, undercutting its 10-week moving average; worst daily drop since April 3, 2025 (-19%).
- Hewlett Packard Enterprise (HPE): fell 6.5% to $64.33, same Barclays downgrade.
- NetApp (NTAP): fell 5.4% to $226.10, same Barclays downgrade.
- Super Micro (SMCI) and AI-server peers: SMCI fell 4%+ to a five-day losing streak as AI-hardware sentiment soured; broader AI-infrastructure and memory-exposed names under pressure.
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