HPQ, DELL Stocks Plunge After Intel Flags Prolonged PC Market Weakness

• Intel CEO projected PC shipments to decline 12% this year and 10% in 2027. 
• “The pace of this PC correction has accelerated over the last 2 months,” Lip-Bu Tan said.
• Retail sentiment was ‘bearish’ for HPQ and DELL.

Shares of computer makers HP Inc. (HPQ) and Dell Technologies (DELL) fell hard after chipmaker Intel Corp. (INTC) forecast a prolonged slowdown in personal-computer sales.

HPQ dropped 7.4% in the overnight session following Intel’s report, after a nearly 2% drop in the regular session. DELL shares fell 7.2%, after closing 3.7% lower in the regular session.

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Intel Flags PC Market Slowdown

“The pace of this PC correction has accelerated over the last 2 months, as our OEM partners are aggressively managing inventory to match the softer sell-through,” Intel CEO Lip-Bu Tan said in the company’s analyst call. “We expect the current environment to persist until memory availability and prices begin to normalize."

The chipmaker projects the PC market slump will persist through at least the first half of 2027, with shipments declining 10% next year after a 12% slide in 2026.

Intel, Amazon Reports Pressure Tech Stocks 

“Despite near-term headwinds across the PC industry, demand for our CPUs remains robust, reinforcing our confidence in the long-term growth opportunities for our business,” Tan said. 

Nevertheless, INTC stock tumbled over 23% overnight after the chipmaker forecast December quarter sales and profit below expectations and flagged manufacturing bottlenecks ‌and heavy spending to expand production.

Separately, Amazon.com, Inc. (AMZN) missed Q3 revenue and profit targets and reported a massive cash burn, sending its shares down 8% overnight.

The report weighed particularly on chipmakers. Nvidia (NVDA) fell 3%, while Advanced Micro Devices (AMD), which competes with Intel in CPUs, slid nearly 8%. Micron (MU) dropped 5%.

Retail View On PC Makers

On Stocktwits, retail sentiment was ‘bearish’ for HPQ and DELL. The sentiment for INTC shifted to ‘extremely bullish’ from ‘bullish.’

“$DELL long and strong. Back to where the earnings spike started. What a gift from back seat INTC,” a trader wrote, while another called the drop in HPQ stock “wipeout.”

As of their last close, Dell had gained 282% year to date, while HPQ had gained 48%.

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