Dell Inc. (NASDAQ:DELL) Quarter Outcomes Disappoint Investors Wealth- Dell, HPQ, AAPL, GOOG, IBM
Personal Computers maker Dell Inc. (NASDAQ:DELL) declared unsatisfactory estimate for Q2 revenue as US and European corporate technology spending declines and consumer personal computer sales continue to decreased, losing its shares.
Shares in the firm, which like competitor Hewlett-Packard Company (NYSE:HPQ) is hammering market share to mobile devices such as Apple Inc. (NASDAQ:AAPL) iPad, dived over 11% in after hours trade.
The world’s third biggest PC maker estimated a 2 to 4 % revenue gain current fiscal quarter, to $14.7 billion to $15 billion, well short of the $15.4 billion Wall Street had been anticipating.
Dell CFO, Brian Gladden stated in an interview that clearly they are seeing a bit more challenging demand environment. Europe, in general, was drops for them, he added.
As a short look on the financial side shares of Dell Inc. (NASDAQ:DELL) dropped 13.74% to the trading at $13.01 at 9:49AM EDT. DELL is going forward its 52 week low with 13.47% and lagging behind from its 52 week high price with -17.86%.
The overall volume in the current trading session was 3.67 million shares. In its share capital DELL has 1.76 billion outstanding shares amid them 1.52 billion shares have been floated in market exchange. Dell Inc. (NASDAQ:DELL) associated with S&P 500 index with 106,700 employees.
Its fifty two week range was $12.83-$18.36. The total market capitalization remained $22.91 billion. DELL stock institutional ownership remained 71.13% while insider ownership included 0.30%.
DELL shock’s previous month stock price volatility remained 2.00%. The stock price of DELL is moving down from its 20 days moving average with -4.31% and isolated negatively from 50 days moving average with -7.41%.
Stocks association with Tech sector and personal computer industry, amid leading tech stocks, losses came from Hewlett-Packard Company (NYSE:HPQ) plunged -5.19%, Apple Inc. (NASDAQ:AAPL) dropped -0.50, Google Inc. (NASDAQ:GOOG)moved up +0.30%, and International Business Machines Corp. (NYSE:IBM) declined -1.03%.