Dell and HP Stocks Plunge After Weak PC Market Forecasts

Both companies report mixed quarterly results, with Dell's AI-driven growth overshadowed by declining PC sales and cautious future projections.

Dell's Q3 revenue grew 10% year-over-year to $24.4 billion but missed analysts' expectations of $24.67 billion, driven by weak PC sales.
HP's Q4 revenue increased 1.7% to $14.1 billion, but its Q1 2025 profit forecast fell below Wall Street estimates, citing sluggish PC demand.
Dell's AI server sales surged 58% year-over-year to $7.4 billion, with a record $3.6 billion in future orders, yet supply-chain issues delayed shipments of Nvidia's Blackwell chips.
Both companies highlighted the slow adoption of AI-powered PCs and a delayed Windows 11 upgrade cycle as factors limiting growth in the PC market.
Despite strong AI-related growth, Dell and HP stocks fell 12% and 8%, respectively, reflecting investor concerns over broader market challenges and cautious outlooks.