Why Is Dell Technologies Stock Falling Thursday? - Dell Technologies (NYSE:DELL)

Dell Technologies shares fell more than 6% on Thursday, lagging a generally firmer broader market after a brokerage downgrade raised concerns about valuation. GF Securities downgraded Dell to Hold from Buy on Wednesday, citing valuation concerns following the stock’s sharp rally. At the same time, Piper Sandler analyst James Fish reiterated an Overweight rating and kept a $497 price forecast. The selloff came after a strong run in which Dell gained more than 235% over the past 12 months, while the Nasdaq rose 0.45% and the S&P 500 added 0.19%. Technically, Dell traded just below its 20-day SMA near $407.12 and showed cooling momentum, including a MACD histogram below zero. The company is expected to report fiscal second-quarter results on Aug. 27, 2026.