(Reuters) -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 tumbled 11%,

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.

HP forecast its first-quarter profit below Wall Street expectations on Tuesday, signaling persistent choppy demand in the personal computers market and sending the company's shares down 8% in extended trading.

HP stock tumbled after the tech company gave lower-than-expected profit guidance for its upcoming quarter Jim Cramer on HP Inc. (HPQ): ‘I Wanna Know The Truth Here If The AI PC Is Really Doing As Well

Dell indicated the AI market was a “robust opportunity,” despite the company’s COO warning its AI business would “not be linear.”

While signs of a global PC market rebound began to materialise this year, shipments again dipped in the third quarter, according to IDC.