Dell Technologies World 2020 Going Virtual Due To Coronavirus

'This decision was not made lightly. As we learn more about the ongoing COVID-19 outbreak, we know this is the right thing to do, given the global nature of Dell Technologies World,' says Dell Technologies in a statement.

Dell Technologies’ largest event of the year, Dell Technologies World 2020, will become a virtual conference due to ongoing concerns around the coronavirus outbreak. Dell’s stock is currently down 8 percent at $36.43 per share as of Monday morning.

“Because nothing is more important than the health and safety of our team members, customers, partners and suppliers, we have decided to make Dell Technologies World 2020 a virtual event,” said Dell in a statement. “This decision was not made lightly. As we learn more about the ongoing COVID-19 outbreak, we know this is the right thing to do, given the global nature of Dell Technologies World.”

Dell Technologies World 2020 was scheduled to take place from May 4 to May 7 in Las Vegas. The $92 billion Round Rock, Texas-based infrastructure giant said the “core” of what it wanted to accomplish during the conference can still be achieved via a virtual event.

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“The core of what we set out to accomplish together is still important, which is why we will deliver keynotes, select breakout sessions and live chats with experts as a virtual experience,” said Dell.

Dell is just the latest IT company to either postpone, cancel or make a conference virtual as the number of infected people with the coronavirus outside China has tripled over the past week.

Please see our statement regarding Dell Technologies World 2020. https://t.co/ZeSb20rMyK

— Dell Technologies World (@DellTechWorld) March 6, 2020

Two of the nation's leading IT distributors, Ingram Micro and Synnex, have delayed or canceled upcoming shows due to the impact of coronavirus, including Ingram Micro’s popular Cloud Summit in Miami.

Hewlett Packard Enterprise is canceling or postponing most of its events through April due to concerns around the outbreak, although HPE Discover Las Vegas in June and its Discover More London conference on April 22 are still scheduled to go on as planned.

Other IT vendors such as Amazon and Google are restricting employee travel due to the spread of the coronavirus.

The total number of cases of the virus has surpassed 110,000 worldwide with infections in more than 100 countries. Approximately 3,600 people have died from coronavirus as of Monday morning.

Last month, Dell reported its fourth fiscal quarter earnings with total revenue of $24.03 billion, up 1 percent year over year, with net income of $416 million. Dell, which is the worldwide server market leader, reported a 19 percent drop in server sales to $4.27 billion in its fourth fiscal quarter 2020.

Dell CFO Tom Sweet said the declines were due to a challenging sales environment in China due to U.S.-China trade tensions and slower spending within the enterprise segment in the U.S.

“The coronavirus has created some level of uncertainty. … We do expect our normal sequentials from Q1 to Q4 [2021] to be softer as a result of the coronavirus impact,” Sweet said. “There’s two principal impacts right now: one is in our domestic China business as the Chinese economy softens, given what they are going through to try to contain the virus, and then the question becomes, will there be any supply chain or lead- time dynamics.”