Dell Crushes 9% in Two-Day $3.5B Wipeout — AI Darling or Valuation Bubble?

Dell’s stock is in a massive tailspin, tumbling over 9% today on top of yesterday’s 11% plunge after a sharp Barclays downgrade to Equal Weight chilled the AI hardware trade. With insider sales hitting a staggering $3.5 billion over the last 12 months and a trailing P/E soaring past 29x, was this selloff an inevitable reality check—or an overreaction for a global infrastructure powerhouse? In this episode of Implied, we break down what triggered the panic, examine Dell's core ISG fundamentals, and evaluate whether institutional buyers might step in for a short-term bounce.