Dell Shares Plunge 11.3% After Barclays Downgrade, Hewlett-Packard and NetApp Also Fall

Dell plunged 11.3 percent on Wednesday after Barclays analysts downgraded the stock from buy to hold.

Concerns are mounting over when companies’ AI investments will have a sufficiently clear impact on manufacturers of servers and other data center infrastructure equipment, CNBC reports.

Barclays also downgraded Hewlett-Packard and NetApp, which are both considered infrastructure companies.

Hewlett-Packard and NetApp also lost significant market value in New York, falling 8.3 and 7 percent, respectively.