Dell Technologies Inc. DELL shares are trading higher Tuesday, reflecting continued momentum from last week’s strong chip sector performance, as well as a positive analyst update from Loop Capital.
What To Know: The rise in Dell’s stock comes amid overall strength in AI-related names following NVIDIA Corp’s NVDA impressive earnings report last week. Additionally, Dell’s recent introduction of a new portfolio of AI-powered PCs has generated positive sentiment among investors.
Related Link: Nvidia CEO Jensen Huang Sees Dell Partnership As Key To Wider AI Adoption: ‘It’s Not About Just Delivering A Box…’
Last week, Nvidia’s better-than-expected earnings report significantly boosted the semiconductor sector, highlighting the growing demand for AI technology. This favorable backdrop has spilled over to Dell, which is also focused on capitalizing on the AI trend. Dell’s recent unveiling of AI PCs positions the company to benefit from the increasing integration of AI in consumer and enterprise technology.
Adding to the optimism, Loop Capital analyst Ananda Baruah maintained a Buy rating on Dell stock Tuesday and raised the price target from $125 to $185, further boosting investor confidence.
Dell’s upcoming first-quarter 2025 earnings report, scheduled for May 30 after the market close, is also in focus. Wall Street analysts predict quarterly earnings of $1.26 per share, representing a 4.6% decline from the same period last year. Notably, the consensus EPS estimate has been revised upward by 5.4% over the past 30 days, indicating increased confidence among analysts. Revenues are expected to rise 3.7% to $21.7 billion in the company’s fiscal first quarter, per Benzinga Pro.
Related Link: Dell Technologies Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates
DELL Price Action: Dell Technologies shares were up by 4.87%, trading at $167.95 at the time of writing, according to Benzinga Pro.
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See Also: Nvidia, Arm Holdings Emerge As Analyst’s Top Picks For Long-Term Growth Potential
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