Dell stock dips by 11% on Barclays downgrade, data center sell-off fears mount

Dell Technologies (DELL) shares fell 11.6% on Wednesday to close at $507.93 after Barclays downgraded the stock, with a warning that enterprise AI spending may not be enough to sustain an increase in the sales of servers. Barclays downgraded Dell from Overweight to Equal Weight and lowered its price target from $603 to $574. Analysts cited valuation concerns after the stock surged more than 300% in 2026, warning that growth could slow as memory prices normalize. High memory-chip prices have helped hardware makers charge more for servers, but that advantage could fade as costs ease.

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