Dell Technologies Inc.
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Range $289 – $735
Price Chart
About the company
Dell Technologies Inc. is a worldwide technology leader that designs, develops, manufactures, markets, sells, and provides support for a broad spectrum of information technology (IT) solutions, products, and services. The company's business activities are structured into three primary segments: the Infrastructure Solutions Group (ISG), the Client Solutions Group (CSG), and VMware.
- CEO
- Michael Saul Dell
- IPO
- 2016
- Employees
- 97,000
- HQ
- Round Rock, TX, US
AI snapshot
Six angles, distilled from the data.
The stock is in a powerful multi-month uptrend and remains well above its 200-day moving average, signaling a strong bullish regime. It is also trading near the top of its 52-week range, with momentum still intact after a large year-to-date rerating.
Street sentiment is constructive: the consensus sits at Buy with a $563.41 target, essentially in line with the current share price and below the $570 median. Recent action has been mostly target raises and a few upgrades, with no broad downgrading wave.
Dell has a strong beat pattern, topping EPS in 7 of the last 8 quarters, including two outsized surprises above 40%. Shareholders should watch whether the company can sustain that cadence as next-year EPS estimates step down to 11.42 from a 16.78 TTM base.
The pattern is net selling, led by Silver Lake-related holders and a director sale from Lynn Vojvodich. Most of the smaller J and M-coded entries look like administrative or exempt flows, but the discretionary S-coded sales point to some profit-taking rather than accumulation.
Profitability is strong, with a 19.9% gross margin, 12.0% operating margin, and 7.5% net margin. Growth is also robust, with revenue up 57.7% year over year and EPS growth at 272.9%, though leverage remains elevated with $19.98 billion in net debt.
Dell stands out on scale, cash generation, and AI/server exposure versus traditional PC peers, but the market is already pricing in a lot of that strength. At about 30.7x earnings, it trades at a premium to a typical hardware name, so execution has to stay clean.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $373.91B
- P/E
- 32.18
- Fwd P/E
- 21.74
- PEG
- 0.21
- P/S
- 2.47
- P/B
- -254.43
- EV/EBITDA
- 21.57
- Div Yield
- 0.41%
- Gross Margin
- 19.80%
- Op Margin
- 9.55%
- Net Margin
- 7.53%
- ROE
- -574.57%
- ROIC
- 22.79%
Latest fiscal year · YoY change
- Revenue
- $113.54B+18.8%
- Gross Profit
- $22.71B+6.9%
- Op Income
- $8.45B
- Net Income
- $5.94B+29.3%
- EPS
- $8.96+37.6%
- OCF Growth
- +147.4%
- FCF Growth
- +357.6%
- 52W High
- $595.51
- 52W Low
- $110.22
- 50D MA
- $472.29
- 200D MA
- $280.80
- Beta
- 1.41
- RSI (14)
- 59
- Avg Volume
- 7.81M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Dell delivered a record quarter with revenue and EPS far ahead of prior year, driven by surging AI server demand, broad-based traditional server strength, and improving storage mix.· September 1, 2026
- Record Q2 revenue of $47 billion and record diluted EPS of $7.04, up 58% and 203% year over year.
- AI momentum accelerated: $60.9 billion of AI orders, $16.4 billion of AI server revenue, and $95 billion of AI backlog.
- Traditional servers rose 122% and storage rose 26%, with management citing modernization, security/resiliency upgrades, and growing AI-related data needs.
- CSG revenue grew 20%, helped by commercial refresh demand and strong price discipline.
- Management raised full-year revenue guidance by $25 billion to $192 billion midpoint and EPS to $25.50, while keeping OpEx at about 8% of revenue.
Q2 total revenue was $47 billion, up 58% year over year. Diluted non-GAAP EPS was $7.04, up 203%; net income was $4.6 billion, up 189%; operating income was $5.9 billion, up 160%; gross margin dollars were $9.9 billion, up 78%; and gross margin rate was 21.1%. ISG revenue was $31.8 billion, up 89%, with ISG operating income of $4.8 billion and a 15% operating margin. CSG revenue was $15 billion, up 20%, with CSG operating income of $1.1 billion and a 7.6% margin. Cash flow from operations was $2.2 billion, adjusted free cash flow was $8.1 billion, and Dell returned a record $4.3 billion to shareholders. For Q3, Dell guided to revenue of $49 billion midpoint, diluted non-GAAP EPS of $6.50 midpoint, ISG growth of roughly 145% with $19 billion in AI server revenue, and CSG growth of roughly 15%. For the full year, Dell raised revenue guidance to $192 billion midpoint and diluted non-GAAP EPS to $25.50, with ISG growth of roughly 120%, AI server revenue of $74 billion, traditional servers up just over 100%, storage up mid-teens, and CSG up mid-teens; OpEx is expected to be about 8% of revenue and I&O between $1.4 billion and $1.5 billion.
Jeff Clarke framed the quarter as evidence that Dell is compounding advantages from its broad portfolio, engineering, supply chain, and deployment capabilities. He emphasized that customers are modernizing data centers for both AI and non-AI workloads, and said Dell is seeing demand exceed supply across AI, traditional servers, storage, and PCs. His tone was highly confident and upbeat, with repeated references to record orders, backlog, and a strong second half.
David Kennedy highlighted the financial leverage in the model: gross margin dollars rose to $9.9 billion, gross margin rate was 21.1%, OpEx was $4 billion or 8.5% of revenue, and operating income reached $5.9 billion. He pointed to $2.2 billion of operating cash flow, $8.1 billion of adjusted free cash flow, $14.2 billion of cash and investments, and a 0.8x core leverage ratio. He also emphasized capital returns, including the record $4.3 billion returned to shareholders, 9.5 million shares repurchased at an average price of $401, and a dividend of about $0.63 per share.
Analysts pressed on whether the sharp growth in traditional servers and storage was mostly pricing and prebuys versus real demand. Management said the growth was driven primarily by modernization, aging installed base refreshes, security/resiliency requirements, and new AI/agentic workloads, while also acknowledging some inflation and price increases. Questions also focused on customer mix, supply constraints, financing receivables, and whether storage attach to AI deployments is becoming more material; Dell said enterprise demand is accelerating, supply remains tight across many components, financing receivables simply reflect business growth, and Lightning storage is still early and in beta with several customers.
The call showed strong momentum across every major segment, with record AI orders, a backlog approaching $100 billion, and management saying demand continues to outstrip supply. Dell also raised full-year guidance materially and said margin structure is benefiting from scale, storage mix, and modernization, with OpEx at a 42-year low as a share of revenue.
Management repeatedly said Dell remains supply constrained, citing shortages in DRAM, NAND, CPUs, disks, substrates, and AI supply-chain components, which limits near-term conversion of demand into shipments. Analysts also raised the possibility that some of the growth is inflated by pricing, prebuys, and customer budget timing, and management acknowledged inflation in product costs and that not every margin benefit should be expected to continue at the same level.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 91.3%
- Shares Outstanding
- 664.25M
- Float Shares
- 606.28M
of shares held by institutions
1,750 13F filers
Buy/sell ratio 0.05. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for DELL, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Michael T. McCaulHouse · TX10 | Buy | Jun 18, 26 | Filing → |
| Michael T. McCaulHouse · TX10 | Buy | Jun 2, 26 | Filing → |
| John J. McGuireHouse · VA05 | Sell | Jun 4, 26 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Apr 13, 26 | Filing → |
| Markwayne MullinSenate · OK | Sell | Feb 4, 26 | Filing → |
| Markwayne MullinSenate · OK | Sell | Dec 18, 25 | Filing → |
| Markwayne MullinSenate · OK | Sell | Dec 18, 25 | Filing → |
| Markwayne MullinSenate · OK | Sell | Dec 18, 25 | Filing → |
| Markwayne MullinSenate · OK | Sell | Dec 18, 25 | Filing → |
| Lisa C. McClainHouse · MI09 | Sell | Oct 30, 25 | Filing → |
| Lisa C. McClainHouse · MI09 | Sell | Oct 31, 25 | Filing → |
| Jared MoskowitzHouse · FL23 | Buy | Oct 10, 25 | Filing → |
| Jared MoskowitzHouse · FL23 | Buy | Oct 10, 25 | Filing → |
| Lisa C. McClainHouse · MI09 | Buy | Oct 30, 25 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 31.44M | ▲ 1.36M |
| Blackrock, Inc. | 24.09M | ▼ 655.28K |
| Vanguard Capital Management LLC | 19.01M | ▼ 423.07K |
| State Street Corp | 13.76M | ▼ 576.06K |
| Bank Of America Corp | 10.84M | ▼ 3.55M |
| Jpmorgan Chase & Co | 10.44M | ▲ 7.36M |
| Vanguard Portfolio Management LLC | 7.67M | ▼ 347.44K |
| Geode Capital Management, LLC | 7.65M | ▼ 71.10K |
| Morgan Stanley | 7.07M | ▲ 426.58K |
| Fmr LLC | 5.65M | ▲ 1.41M |
| Goldman Sachs Group Inc | 5.50M | ▼ 1.11M |
| Norges Bank | 4.31M | ▲ 4.31M |
Held by 2,155 ETFs
Biggest fund positions in DELL by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Sep 23, 26 | Durban Egon | sell | 1,850 |
| Sep 22, 26 | Radakovich Lynn Vojvodich | other | 2,022 |
| Sep 22, 26 | Radakovich Lynn Vojvodich | other | 2,022 |
| Sep 22, 26 | Radakovich Lynn Vojvodich | sell | 2,022 |
| Sep 21, 26 | Silver Lake Partners IV, L.P. | sell | 3,949 |
| Sep 21, 26 | Silver Lake Partners IV, L.P. | sell | 2,645 |
| Sep 18, 26 | Silver Lake Partners IV, L.P. | other | 101,327 |
| Sep 21, 26 | Silver Lake Partners IV, L.P. | sell | 561 |
| Sep 18, 26 | SL SPV-2, L.P. | other | 114,714 |
| Sep 18, 26 | Silver Lake Partners V DE (AIV), L.P. | other | 59,331 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our DELL coverage
Recent articles, reports, and earnings notes.

Dell Technologies (DELL): AI Infrastructure Momentum
Dell has transformed into a major AI infrastructure supplier, with record revenue, a $51.3B AI backlog, and sharply rising AI server sales. The stock earns a Buy as growth accelerates, though margin pressure and leverage keep the risk profile elevated.

Dell Technologies Inc. (DELL) rises as AI rally continues
Dell Technologies Inc. (DELL) rises on continued momentum from its strong Sept. 1 earnings report and booming AI infrastructure demand. Investors are reacting to higher guidance, a massive AI backlog, and evidence that Dell is converting AI orders into revenue, though valuation remains elevated.

Dell Technologies Inc. (DELL) rises on AI server demand
Dell Technologies Inc. (DELL) rises as investors react to surging AI server demand, a higher full-year revenue outlook, and a growing backlog. The stock pushed to fresh highs after strong earnings, upbeat conference remarks, and bullish analyst target increases reinforced the AI infrastructure story.
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Dell Technologies (NYSE:DELL) Stock: Insider Lynn Vojvodich Radakovich Sells 2,022 Shares
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Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed September 25, 2026 · Live quote · Not investment advice