What's Going On With Dell Technologies Stock?

Dell Technologies Inc. DELL shares are trading higher Wednesday after the stock rejoined the S&P 500 Index on Monday. The company also announced Dell AI for Telecom, a program designed to accelerate AI deployments for communications service providers (CSPs).

The Details:

The Dell AI for Telecom program is part of the Dell AI Factory and will develop and deploy on-premises AI solutions that CSPs can use to enhance network performance, improve customer service and provide greater value. As part of the Dell AI for Telecom program, Dell has extended its collaboration with NVIDIA Corp. NVDA to co-create and validate telecom AI solutions for CSPs. 

The companies will also collaborate to  facilitate AI deployments at the edge of the telecom network and help CSPs design and deploy GPU-as-a-Service (GPUaaS) offerings, so they can provide on-demand NVIDIA GPU capacity for enterprise customers. 

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"Capitalizing on the multiple opportunities presented by AI has become the most compelling driver of network cloud transformation,” said Dennis Hoffman, senior vice president and general manager, Telecom Systems Business, Dell Technologies.

“Dell AI for Telecom brings together Dell’s AI expertise and infrastructure, with partners across the ecosystem, to help network operators implement AI solutions in and on the network that reduce OPEX, improve performance and create new edge revenue opportunities,” said Hoffman. 

According to data from Benzinga Pro, Dell Technologies shares are up more than 50% year-to-date and trading above the stock’s 50-day moving average of $110.93.  

DELL Stock Prediction 2024:

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Dell Technologies have an average 1-year price target of $142.58, representing an expected upside of 20.01%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Dell Technologies, while 16 analysts have bullish ratings. The street high price target from Evercore ISI Group is $165, while the street low from Barclays is $97.

DELL Price Action: According to Benzinga Pro, Dell Technologies shares are up 2.16% at $119.84 at the time of publication Wednesday.

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