Quick Read – Dell Technologies (DELL) reported fiscal Q4 revenue of $33.379B (+40.21% YoY) with AI-optimized server revenue surging 342% to $8.952B, backed by a record $43B AI backlog and FY27 guidance for AI server revenue to double to $50B.
NVIDIA (NVDA) benefits from Dell’s infrastructure buildout through partnerships like the Pangea 5 supercomputer project. – Dell’s valuation has compressed despite strong fundamentals as UBS downgraded the stock citing how much AI is already priced in, creating a risk-reward dynamic where gross margin compression below 17% could trigger multiple reset toward Wall Street consensus of $189.61. – The analyst who called NVIDIA in 2010 just named his top 10 stocks and Dell Technologies wasn’t one of them
Get them here FREE. Dell Technologies (NYSE:DELL) has become one of the defining AI infrastructure trades of 2026, and our proprietary model sees room to run. Shares trade at $238.94 as of May 12, 2026, up 91.28% year to date and 134.62% over the past year.
Our 24/7 Wall St. price target for Dell is $269.53, implying 12.8% upside over the next 12 months. The recommendation is buy with high confidence (90% on our scale). A Record Run Meets a Profit-Taking Wobble Dell printed a record high before a 3.28% pullback on May 12, triggered by Jim Cramer’s “smell the reversal” warning on crowded AI trades.