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Why Dell Stock Just Dropped 7.5%
Shares of computer-manufacturer Dell Technologies (NYSE: DELL) crashed 7.5% in 11:35 a.m. ET trading Friday after the company reported Q4 earnings that fell short of analyst targets. Heading into Q4, Wall Street had forecast that Dell would earn $1.95 per share, pro forma, on sales of $27.4 billion in the quarter. Last night, Dell beat that sales estimate by a bit — $28 billion in quarterly sales — but fell way short on profits, earning just $1.72 per share, pro forma.
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