Dell extends selloff, down ~7.5% Thursday as Intel PC warning and data-center fears persist (Nov 5)
What happened
Dell Technologies (DELL) fell roughly 7.5% in Thursday's session to about $344.44, extending a sharp multi-day selloff in AI infrastructure hardware after closing down 8.8% at $372.36 on Wednesday. The immediate catalyst was Intel's warning that global PC shipments could fall about 12% in 2026 and another 10% in 2027 on memory shortages and rising component costs, which hit PC-exposed hardware names. Investors also priced in the risk of tighter regulation or construction moratoriums on new AI data centers after the Democrats' midterm sweep, particularly in high-growth states such as Texas. Note: the Melius Research price-target cut (to $590 from $735) was made on Monday, Nov 2 — not a fresh Thursday development; it is cited in same-day coverage as a compounding factor, not new analyst action. Recent regulatory filings also showed insider sales of roughly 1.8 million shares worth close to $991 million over the prior quarter.
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Start your free 14-day trialWho’s affected
- Dell Technologies (DELL, -7.5% Thursday, -~16% over two sessions)
- Intel (INTC) as the source of the PC-demand warning; the broader PC/AI-hardware complex including HP and other server makers exposed to memory costs and data-center demand
- Nvidia as Dell's AI-server partner (its chips power Dell's AI Factory offerings).