Dell Technologies Inc. (12DA.DE) shares fell more than 6% on Thursday, June 25, 2026. The stock continued to decline on Friday, June 26.

GF Securities downgraded the company from Buy to Hold. This rating change followed a rally where shares gained more than 235% over the past year.

Director Lynn Vojvodich Radakovich sold 12,022 shares on Monday, June 22. The transaction value exceeded $5 million.

Some analysts remain optimistic due to high demand for AI servers. Persistent memory supply constraints also contribute to the positive outlook.