Dell stock is down 20% this week: Buy, sell, or hold?

Dell (NYSE: DELL ) stock has fallen 18.2% this week, last closing at $473.39 on October 15 after losing no less than 11% in the previous session. Is the stock a buy, hold, or sell? According to the latest Wall Street call, the answer is hold, as Barclays analyst Tim Long downgraded the stock from “Overweight” to “Equal-Weight” and reduced his Dell share price target from $603 to $574 on October 15. The downgrade, which was largely responsible for the previous sessions’s downtick, reflected concerns that the company’s valuation had become far too stretched and that broader spending had yet to benefit meaningfully from artificial intelligence ( AI ) adoption.

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