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.