PREVIEW: Dell falls heading into results as investors eye AI demand

Dell Technologies

01/09/2026 17:07

** Dell's DELL.N shares down 4.3% at $436.60 on Tues ahead of qtrly results due after the bell, with focus on its AI server business and outlook
** Wall Street expects server and PC maker to report fiscal Q2 rev up 51% yr/yr to $44.9 bln and adj EPS of $4.91, up from $2.32 a yr ago, per LSEG
** Last qtr, co substantially raised its annual forecasts, driven by surging demand for its AI servers
** Despite the decline, stock has soared nearly 250% YTD, far outpacing S&P 500's .SPX ~12% gain and S&P 500 Tech sector's .SPLRCT ~22% advance
** DELL recently traded at 21x forward earnings, well above its five-year avg PE of 11
** 20 of 29 analysts rate the stock "strong buy" or "buy", 9 "hold"; median PT $500

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))