Dell Technologies (DELL) shares were under decent pressure yesterday, down more than 4% at yesterday’s close.

The culprit: Jefferies commentary Tuesday morning the firm’s channel checks showed SpaceX (SPCX) and CoreWeave (CRWV), currently Dell clients, plan to source their AI servers directly from Taiwanese manufacturers.

But now, as Wednesday’s session is starting to heat up, has the concern been mostly forgotten?

With S&Ps and the QQQs drifting higher overnight thanks to solid quarterly figures from CoreWeave, Lumentum (LITE) and especially Supermicro (SMCI), a close Dell peer, Dell shares have gotten back about half of the losses from yesterday.

The stock currently sits only only about 10% from all-time highs. Shares remain to be one of the most resilient hardware stocks out there.