What’s Really Driving Dell’s Boom? Barclays Has a Different Answer

Dell Technologies stock fell 11.27% on October 14 after Barclays cut the server maker to Equal Weight from Overweight. The bank said enterprise spending on AI has not reached a meaningful turning point. The downgrade landed a day after Michael Dell told CNBC that enterprise AI adoption is just beginning. Barclays Credits Memory Prices for the Enterprise Boom Barclays analyst Tim Long applied the same downgrade to Hewlett Packard Enterprise (HPE) and NetApp. CNBC reported the analysts have not seen a meaningful AI inflection in enterprise spending at all 3 companies. The bank turned more guarded on hardware names it described as “more aligned with enterprise spending.” Long tied the group’s revenue growth to the global memory shortage.

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