Dell collapses on weak Q4 guidance, despite AI optimism – 11/26/2024 at 11:25 p.m.

Dell collapses on weak Q4 guidance, despite AI optimism – 11/26/2024 at 11:25 p.m.
Dell collapses on weak Q4 guidance, despite AI optimism – 11/26/2024 at 11:25 p.m.

((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))

November 26 – **Dell Technologies DELL.N shares fall ~10% after market

** The company expects fourth-quarter revenue of $24 billion to $25 billion, compared with a forecast of $25.6 billion, according to data compiled by LSEG

**Q3 revenue was $24.37 billion, lower than forecast of $24.67 billion

**Dell's traditional PC segment faces stiff competition from rivals

** The Infrastructure Solutions group's turnover nevertheless increased by 34% compared to last year, thanks to strong demand for its artificial intelligence servers

**AI is a solid opportunity for us and shows no signs of slowing down,” said Jeff Clarke, Chief Operating Officer

** The stock has jumped 85% year to date as of Tuesday's close

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