Shares of HP and Dell plummet as weak PC sales and sluggish AI adoption dampen market recovery hopes.

On November 27, HP and Dell shares fell sharply due to weak financial forecasts, raising concerns about the PC market recovery. Dell's shares dropped 13%, reducing its market value by nearly $13 billion, while HP's shares fell 9%, losing over $3 billion in market capitalization. The decline reflects weakened demand for traditional PCs and limited uptake of AI-enabled models. Dell's server business, however, saw a 58% increase in revenue, driven by AI investments from cloud companies.

November 30, 2024
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