US Stock Market Move | Dell Technologies, Inc. Class C technology (DELL.US) fell by 7% after Morgan Stanley downgraded its rating to "underweight."

On Monday, Dell Technologies, Inc. Class C technology (DELL.US) fell by 7% to $124.40. On the news front, Morgan Stanley downgraded its stock rating from "hold" to "sell" for the second time and lowered its target price from $144 to $110 on November 16, sparking concerns about Dell Technologies, Inc. Class C's earnings prospects. The report stated that DRAM spot prices surged by 260% in two months, while NAND flash prices have risen by over 50% since the beginning of the year. Dell Technologies, Inc. Class C's gross profit margin will face downward pressure of 45 to 150 basis points with every 10% increase in storage chip prices, as DRAM costs account for 10%-70% of its material bill in high-end products.