Dell Technologies: AI-Optimized-Server Orders Increased Nearly 40% Sequentially
Dell Technologies: AI-Optimized-Server Orders Increased Nearly 40% Sequentially.
News & Forecast & Price target & Analyst Ratings & Estimates
Dell Technologies: AI-Optimized-Server Orders Increased Nearly 40% Sequentially.
Dell Technologies (NYSE:DELL) reported quarterly earnings of $2.20 per share which beat the analyst consensus estimate of $1.73 by 27.17 percent. The company reported quarterly sales of $22.30 billion which beat the analyst consensus estimate of $22.16 billion by 0.62 percent. This is a 10.94 percent decrease over sales of $25.04 billion the same period last year.
DELL TECHNOLOGIES Reports Q4 Revenue $22.3B, vs. Street Est of $22.17B.
By Denny Jacob Dell Technologies reported a double-digit increase in adjusted net income for the fourth quarter as demand for its AI-optimized servers heated up. The PC-maker on Thursday said its bottom line, adjusted for one-time items, increased 22% for the quarter ended Feb. 2. Its top line declined to $22.32 billion, but came in slightly better than Wall Streets forecasts. Our strong AI-optimized server momentum continues, with orders increasing nearly 40% sequentially and backlog nearly doubling, said Chief Operating Officer Jeff Clarke. The Round Rock, Texas-based companys Infrastructure Solutions segment increased 10% overall from the AI boost, while storage revenue rose 16%. Dell said orders for its AI-optimized servers came from a wider range of customers and geographies. Here is how Dell did in the fourth quarter: — Revenue declined 11% to $22.32 billion from $25.04 billion in the year-ago quarter. Analysts expected $22.17 billion. — Adjusted net income…
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Dell Technologies (DELL) reported fiscal Q4 non-GAAP earnings late Thursday of $2.20 per diluted share, up from $1.80 a year earlier. Analysts polled by Capital IQ expected $1.72. Net revenue for the quarter ended Feb. 2 was $22.32 billion, down from $25.04 billion a year earlier. Analysts surveyed by Capital IQ expected $22.17 billion. Dell said it’s raising its annual dividend by 20% to $1.78 per share, with $0.445 per share for the first quarterly distribution payable on May 3 to shareholders on April 23. The company’s shares were rising past 15% in recent Thursday after-hours trading.
Dell Technologies (DELL) is expected to see continued momentum in its server business and further growth in orders in its fiscal fourth quarter, with artificial intelligence servers and AI-enabled personal computers likely to drive growth in the medium term, BofA Securities said. The computer maker is scheduled to report its fourth-quarter financial results Thursday. BofA projects per-share earnings at $1.73 on revenue of about $22.24 billion. Wall Street is looking for $1.72 and $22.15 billion, respectively, according to the brokerage. In the previous quarter, the company’s pipeline for AI-optimized servers tripled sequentially, Chief Operating Officer Jeff Clarke said in November on a call discussing Dell’s third-quarter results, according to a Capital IQ transcript. Demand was ahead of supply, Clarke told analysts at the time, adding that the company was working to convert its pipeline “into real sales, into orders.” “Given its focus on enterprise (versus) hyperscale, Dell should see strong…
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Dell Technologies (DELL) likely faces a “tricky” earnings setup amid subdued near-term hardware spending, which could prompt the computer maker to guide April-quarter financial results below market consensus, Morgan Stanley said Wednesday. Dell is scheduled to report fiscal Q4 results Feb. 29. Morgan Stanley projects adjusted earnings at $1.73 per share on revenue of $21.82 billion. The company’s forward-looking outlook and artificial intelligence server backlog could see “some downside risk” in next week’s report, Morgan Stanley said in a note. “This creates a tricky earnings setup, but we’re ultimately buyers on any post-earning weakness,” the brokerage said. “Eventual S&P 500 inclusion, new/notable AI server wins, and a return to PC market growth represent key stock catalysts we see over the 12 months.” Morgan Stanley raised its price target on the Dell stock to $100 from $89 while reiterating its overweight rating, according to the note.
Dell Technologies Inc. (NYSE:DELL) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/16/2024 17.06% UBS $80 → $99 Maintains Buy 01/08/2024 6.42% JP Morgan $77 → $90 Upgrades Neutral → Overweight 01/03/2024 6.42% Bernstein $80 → $90 Maintains Outperform 12/01/2023 -8.95% JP Morgan $76 → $77 Maintains Neutral 12/01/2023 1.69% Goldman Sachs $78 → $86 Maintains Buy 12/01/2023 0.51% Wells Fargo $80 → $85 Maintains Overweight 12/01/2023 -3.04% Raymond James $68 → $82 Maintains Outperform 11/20/2023 12.33% Melius Research → $95 Initiates Coverage On → Buy 10/06/2023 5.24% Morgan Stanley $87 → $89 Maintains Overweight 10/03/2023 2.87% Morgan Stanley $70 → $87 Maintains Overweight 09/25/2023 -11.32% Deutsche Bank $68 → $75 Maintains Buy 09/22/2023 -5.4% Citigroup $70 → $80 Maintains Buy 09/19/2023 -5.4% Daiwa Capital $50 → $80 Upgrades Neutral → Outperform 09/11/2023 -5.4% Evercore ISI Group $70 → $80 Maintains Outperform…
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Dell Technologies Inc. (NYSE:DELL) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/08/2024 17.25% JP Morgan $77 → $90 Upgrades Neutral → Overweight 01/03/2024 17.25% Bernstein $80 → $90 Maintains Outperform 12/01/2023 0.31% JP Morgan $76 → $77 Maintains Neutral 12/01/2023 12.04% Goldman Sachs $78 → $86 Maintains Buy 12/01/2023 10.73% Wells Fargo $80 → $85 Maintains Overweight 12/01/2023 6.83% Raymond James $68 → $82 Maintains Outperform 11/20/2023 23.76% Melius Research → $95 Initiates Coverage On → Buy 10/06/2023 15.95% Morgan Stanley $87 → $89 Maintains Overweight 10/03/2023 13.34% Morgan Stanley $70 → $87 Maintains Overweight 09/25/2023 -2.29% Deutsche Bank $68 → $75 Maintains Buy 09/22/2023 4.22% Citigroup $70 → $80 Maintains Buy 09/19/2023 4.22% Daiwa Capital $50 → $80 Upgrades Neutral → Outperform 09/11/2023 4.22% Evercore ISI Group $70 → $80 Maintains Outperform 09/07/2023 -30.95% Barclays → $53 Downgrades Equal-Weight →…
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JPMorgan analyst Samik Chatterjee upgrades Dell Technologies (NYSE:DELL) from Neutral to Overweight and raises the price target from $77 to $90.