Why Dell Stock Is Trading Lower Today

Dell Technologies Inc. DELL shares are trading lower Wednesday in sympathy with HP, Inc., which fell after issuing weak guidance.

What To Know: Despite HP reporting better-than-expected third-quarter results, the company issued full-year 2023 earnings per share guidance below estimates.

HP estimated full-year 2023 earnings per share to be between $3.23 and $3.35, versus the $3.37 estimate. Also, the company anticipated fourth-quarter earnings per share to be between 85 cents and 97 cents, versus the previous estimate of 95 cents.

Dell shares fell in sympathy with HP, only a day before the company is set to report its second-quarter earnings. Dell is expected to report earnings of $1.14 per share and revenue of $20.85 billion.

Despite the downward move Wednesday, Dell stock is up 38.29% year-to-date.

Related Link: Analysts Lower Ambarella Price Targets: Shifting Focus From Earnings To Underlying Tech Amid Market Weakness

DELL Price Action: Shares of Dell were down 1.56% at $55.62 at the time of publication, according to Benzinga Pro.

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