On July 29, Dell Technologies Inc. declined 3.13% in regular trading, trading at $379.41/share, with turnover of $4.37 billion. The stock extended its steep sell-off from the prior session, in which it plunged over 14%, marking its largest single-day decline since April of last year.

On the news front, the global PC market turned negative in the second quarter for the first time after five consecutive quarters of growth, with shipments declining 4% year-over-year. Dell's shipments fell 6% during the same period. Additionally, concerns over AI server profit margins, a slower-than-expected AI PC upgrade cycle, and surging storage chip prices pushing up hardware costs have weighed heavily on the sector. High interest rates continue to compress enterprise IT budgets, further dampening demand outlook.

Within the Technology Hardware, Storage and Peripherals sector, weakness remained broad-based. Among individual stocks, SanDisk Corp. down 6.68%, Apple up 0.34%, Seagate Technology PLC up 1.48%, Western Digital down 0.17%, IONQ Inc. down 2.57%.

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