Shares of Dell and HP fell on Wednesday after the personal computer makers issued forecasts that cast doubt on a market recovery driven by artificial intelligence-enabled PCs. Dell fell 13% in trading before the bell,

HP Inc. gave an outlook for profit in the current quarter that fell short of estimates, suggesting a setback in the personal computer market’s recovery from a yearslong slump.

Profitability took a hit as well, as HP reported net earnings of $906 million for the quarter, down from $974 million one year earlier. The company also reported total revenue in fiscal 2024 of $53.6 billion, which was more or less flat compared to the prior year.