On September 14, Dell Technologies Inc. fell 4.32% in regular trading, trading at $532.28 USD/share, with turnover of $1.002 billion. The decline came just one trading day after the stock surged nearly 12% to a record high.

On the news front, three major AI giants reached a rare consensus calling for a slowdown in the pace of AI development, sparking market concerns that a deceleration in AI expansion could undercut demand expectations for computing infrastructure. The broader hardware sector came under significant selling pressure, with NVIDIA declining 2.0%, Micron falling 3.5%, and Marvell Technology dropping 4.3% in pre-market trading. Simultaneously, Fed September rate hike expectations surged to 87.3%, further compressing technology stock valuations.

Within the Technology Hardware, Storage and Peripherals sector, selling was broad-based. Among individual stocks, Hewlett Packard Enterprise fell 9.4%, SanDisk fell 5.35%, Western Digital fell 4.34%, Seagate Technology fell 4.13%, and Apple edged down 0.01%. Dell had previously been named by Oracle as a core supplier for its $950 billion AI capital expenditure plan and received an outperform initiation from RBC Capital Markets with a $640 price target.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)