DELL
Dell Technologies Inc.

Dell Technologies Inc.DELL

Technology · Computer Hardware
549.83USD
+0.17%
Sep 24, 2026
DELL overview ready
Systems-Level Provider of AI-Optimized Servers and Integrated Infrastructure
Dell is a systems-level infrastructure provider that assembles, validates, sells and supports AI-optimized server platforms and associated storage, networking and services for enterprise and large-scale AI deployments.
Strong narrative exposure
Exposed to the AI Compute Infrastructure Buildout narrative through AI-Optimized Servers and Integrated Compute Systems — infrastructure supplier.
Constructive pullback in an uptrend
Longer-term context reads extended trend, with a near-term setup of extended daily.
Demanding valuation
The price embeds expectations that run ahead of the cash the business currently produces.
Unremarkable fundamentals
Primary risk
High leverage and associated interest costs.
Market Sep 23Filing Jul 31Price action Sep 23Research Jul 29

Conviction Level

NarrativeHeat9.5ThemeHeat8.6PriceAction4.3Valuation3.4CompanyPosition7.3
Price
Loading price history…

Price Action

Constructive pullback in an uptrend
Longer-term context reads extended trend, with a near-term setup of extended daily.
EntryHealthy but extended

The long-term trend remains healthy, but price is substantially extended from major structural anchors and has not produced a meaningful reset. The current trend is strong, while the fresh-entry location is less attractive.

Key Financials

Market Cap
$351.9B
Avg Volume (60D)
8.1M
60 sessions
Revenue Growth YoY
+18.8%
FY2026 vs FY2025
Gross Margin
+19.8%
Trailing twelve months
Operating Margin
+9.4%
Trailing twelve months
Free Cash Flow Yield
+2.4%
Distance from 200DMA
+97.6%
Next Earnings
2026-11-27
P/E
30.9x
EV / EBITDA
21.7x
EV / Sales
2.5x
Market metrics as of Sep 23, 2026
Financial results for the period ended Jul 31, 2026
Filed balance-sheet data as of Jul 31, 2026

Fundamentals & Valuation

One of the two valuation perspectives says expensive; peers is the dissenting view.
Dell Technologies Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of the cash the business currently produces.

Company Research

Thesis
Dell is a systems-level infrastructure provider that assembles, validates, sells and supports AI-optimized server platforms and associated storage, networking and services for enterprise and large-scale AI deployments.
Opportunity
Moderate opportunity
Hyperscaler, cloud-provider and enterprise capital spending on accelerator-dense servers, integrated racks, storage and related systems needed to deploy AI training and inference capacity.
Key risk
High leverage and associated interest costs.

Narrative & Theme

AI Compute Infrastructure Buildout
Part of AI-Optimized Servers and Integrated Compute Systems, with moderate fit.
Dell has direct revenue exposure to the AI infrastructure spending cycle through AI-optimized servers rather than merely generic technology adjacency.
Narrative HeatHot9.5 / 10
Theme HeatHot8.6 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.

Business & Markets

Technology · Computer Hardware
What they do

Dell Technologies Inc. designs, manufactures, markets, sells, and supports integrated technology solutions and products globally through its Infrastructure Solutions Group and Client Solutions Group segments.

How it earns

Primarily transactional sales of hardware and software products, complemented by services and support contracts.

Products & services
All-flash storage solutions
AI-optimized servers
Networking products
Client computing devices
Customers & end markets
Enterprise IT organizations
Individual consumers
Market position

Leader in computer hardware and integrated IT infrastructure solutions.

Demand drivers
Medium cyclicality

Technology hardware demand is influenced by economic cycles and IT spending patterns.