Posted 3/1/2024, 3:16:20 PM
Dell Soars to Record High as AI Business Booms
- Dell stock surged 25% to a record high following strong annual forecast and growth in AI business
- Orders for Dell's AI-optimized servers jumped 40% last quarter as more customers demand AI capabilities
- At least 9 brokerages raised their price targets on Dell after latest earnings results
- While Dell's revenue dropped in the last quarter, they forecast $91B-$95B in revenue for the next fiscal year
- Dell is benefiting from AI boom that is driving gains across enterprise tech vendors like Nvidia