[DEVELOPING] Barclays cuts Dell, HPE, NetApp to Equal Weight, sees no meaningful enterprise AI inflection yet
Barclays analyst Tim Long downgraded Dell, HPE and NetApp from Overweight to Equal Weight. He argued that recent enterprise hardware revenue strength reflects memory-driven price increases more than AI demand, cutting Dell's target to $574 and HPE's to $77. GuruFocus reported that Dell fell nearly 10%, HPE more than 6% and NetApp almost 5% on Oct 14, adding to that day's broader AI-infrastructure selloff. To watch: whether memory pricing eases and how enterprise server guidance holds up in the next reports.