Current Market Situation: The demand for memory chips, particularly DRAM, has surged due to the rise of artificial intelligence, leading to significant shortages and price increases, with contract prices rising approximately 30% in the last quarter.
Chinese Chipmakers' Challenges: Despite the opportunity presented by the global shortage, Chinese chipmakers like Changxin Memory Technologies (CXMT) face difficulties in increasing their market share, currently at around 5%, due to technological restrictions and competition from established leaders like Samsung and SK Hynix.
Technological Advancements: CXMT has introduced its latest DDR5 DRAM, which is now only three years behind its South Korean competitors, a significant improvement from a larger gap in 2020.
Regulatory Hurdles: U.S. technology restrictions pose a major challenge for Chinese chipmakers, limiting their access to advanced equipment and potentially subjecting them to stricter regulations, which could hinder their ability to capitalize on the current market conditions.
Wall Street analysts forecast DELL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DELL is 164.85 USD with a low forecast of 113.00 USD and a high forecast of 180.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
Wall Street analysts forecast DELL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DELL is 164.85 USD with a low forecast of 113.00 USD and a high forecast of 180.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Buy
3 Hold
1 Sell
Moderate Buy
Current: 117.170
Low
113.00
Averages
164.85
High
180.00
Current: 117.170
Low
113.00
Averages
164.85
High
180.00
Morgan Stanley
Erik Woodring
Underweight
downgrade
$113 -> $111
2026-01-20
New
Reason
Morgan Stanley
Erik Woodring
Price Target
$113 -> $111
AI Analysis
2026-01-20
New
downgrade
Underweight
Reason
Morgan Stanley analyst Erik Woodring lowered the firm's price target on Dell Technologies to $111 from $113 and keeps an Underweight rating on the shares. The firm's chief investment officer survey indicated the the slowest hardware budget growth in 15 years. Resellers are expecting an "elastic demand response" to input cost inflation, which warrants a more defensive IT hardware position despite secular AI tailwinds, the analyst tells investors in a research note. Morgan Stanley has turned "more defensive," saying its recent survey work "signals the perfect storm of cautionary factors emerging." The firm downgraded its sector view to Cautious from In-Line.
Citi
Asiya Merchant
Buy
downgrade
$175 -> $165
2026-01-20
New
Reason
Citi
Asiya Merchant
Price Target
$175 -> $165
2026-01-20
New
downgrade
Buy
Reason
Citi analyst Asiya Merchant lowered the firm's price target on Dell Technologies to $165 from $175 and keeps a Buy rating on the shares. The firm adjusted targets in the technology hardware group as part of its 2026 outlook. Citi believes hyperscaler data center spending "remains robust," which is driving demand for power, storage, connectors, and fiber.
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Morgan Stanley
Equal Weight
downgrade
$23 -> $21
2025-12-17
Reason
Morgan Stanley
Price Target
$23 -> $21
2025-12-17
downgrade
Equal Weight
Reason
Morgan Stanley lowered the firm's price target on Ingram Micro (INGM) to $21 from $23 and keeps an Equal Weight rating on the shares. Among the IT Hardware group, the firm recommends being overweight cloud capex winners, product-cycle beneficiaries such as Apple, and unique assets, while it suggests being underweight stocks with elevated memory exposure - like Dell (DELL) and HP (HPQ) - and is "increasingly more cautious" on memory-exposed names as well, the analyst tells investors in a year-ahead note.
Mizuho
Vijay Rakesh
Outperform
maintain
$170 -> $175
2025-11-26
Reason
Mizuho
Vijay Rakesh
Price Target
$170 -> $175
2025-11-26
maintain
Outperform
Reason
Mizuho analyst Vijay Rakesh raised the firm's price target on Dell Technologies to $175 from $170 and keeps an Outperform rating on the shares. The company reported "strong" October quarter revenue on artificial intelligence server upside with stable gross margins, the analyst tells investors in a research note. The firm believes Dell is well positioned into 2027.
About DELL
Dell Technologies Inc. is engaged in designing, developing, manufacturing, marketing, selling, and supporting a wide range of comprehensive and integrated solutions, products, and services. The Company operates through two segments: Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG). Its ISG segment enables the Company’s customer’s digital transformation with solutions that address artificial intelligence (AI), machine learning, data analytics, and multi cloud environments. Its comprehensive storage portfolio includes modern and traditional storage solutions, including all-flash arrays, scale-out file, object platforms, hyper-converged infrastructure, and software-defined storage. Its CSG segment offers branded personal computers (PCs) including notebooks, desktops, and workstations and branded peripherals that include displays, docking stations, keyboards, mice, and webcam and audio devices, as well as third-party software and peripherals.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
