According to a survey of eight technology investors and analysts carried out by Reuters, most market players expect Dell to either drop out of the bidding war now or to do so after topping HP's latest offer by a few dollars.
Dell has until Wednesday to match HP's $2 billion offer for 3Par, which would help Dell expand into enterprise technology services.
"It's hard to compete with HP," Peter Bell of venture capital firm Highland Capital Partners told Reuters. "They've got the bigger balance sheet."
HP's bid was the latest in a week-long exchange of rising offers, and the company could go higher still, Reuters reported.