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DELL

HPE

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Data center stocks took a major hit on Monday after Morgan Stanley downgraded seven hardware companies, including Dell and Hewlett Packard Enterprise .

The bank double-downgraded Dell from overweight to underweight and downgraded HPE from overweight to equal weight.

Dell and HPE closed down 8% and 7%, respectively.

HP Inc , Asustek and Pegatron were also downgraded from equal weight to underweight, while Gigabyte and Lenovo were lowered from equal weight to overweight. All companies saw shares dip as much as 6%.

Morgan Stanley analysts wrote that computer makers are in the midst of an unprecedented pricing "supercycle," as hyperscalers continue to a

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