Computer-maker Dell’s rollercoaster ride isn’t over and it’s left investors woozy. Despite increasing net income 27% in third quarter earnings released yesterday, Dell shares slipped nearly 10% in after hours trading, giving back nearly everything the stock gained leading up to the report and underlining CEO Michael Dell’s statement: “There’s more work to be done,” reports the Austin American-Statesman.
Call it a crisis of confidence. Coming on the heels of the SEC accounting investigation, investors are unsure whether Dell, which reported earnings just a penny off expectations, can cut spending enough and halt its sliding market share in time to remain relevant. And investors aren’t sure whether the plan is moving fast enough. Dell's stock has dropped further today, down nearly 14% in morning trading.