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Rising Memory Chip Prices Force Dell Stock Downgrade

11/17/2025

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Summary

Story summary

Morgan Stanley warned rising memory-chip prices could squeeze margins for computer makers, triggering Dell Technologies stock declines.
The bank downgraded several hardware makers amid a NAND and DRAM pricing 'supercycle,' with spot prices up 50-300% in six months.
Analysts expect contract prices to rise in the double digits quarterly through 2026, and Dell Technologies was downgraded to underweight with its price target cut from 144 to 110.

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Story summary

Morgan Stanley warned rising memory-chip prices could squeeze margins for computer makers, triggering Dell Technologies stock declines.
The bank downgraded several hardware makers amid a NAND and DRAM pricing 'supercycle,' with spot prices up 50-300% in six months.
Analysts expect contract prices to rise in the double digits quarterly through 2026, and Dell Technologies was downgraded to underweight with its price target cut from 144 to 110.