Trade and Tariff Impact: COO Jeff Clarke stated that Dell does not anticipate significant impacts from trade and tariff uncertainties and has no plans to raise prices for customers. The company has already incorporated known tariff effects into its full-year guidance.
Supply Chain Resilience: Clarke emphasized Dell's ability to manage supply chain disruptions effectively, claiming the company has "weathered the storm" and maintained customer service quality.
Financial Performance
Second-Quarter Earnings: Dell reported $29.78 billion in revenue for the second quarter, marking an 18.98% increase year-over-year and surpassing consensus estimates of $29.17 billion. The company also achieved a profit of $2.32 per share, slightly above the expected $2.31.
Stock Performance: Despite the positive earnings report, Dell's stock experienced a decline, closing at $134.05, down 6.08% in pre-market trading. The stock had previously risen by 1.22% following the earnings announcement.
Future Outlook
Gross Margin Expectations: CFO Yvonne McGill projected a 10% quarter-over-quarter increase in gross margin dollars, driven by growth in AI server sales and improvements in the storage portfolio, alongside deflation in input costs.
Strategic Advantages: Clarke highlighted Dell's four-decade experience in supply chain management as a crucial asset in navigating global uncertainties, reinforcing the company's agility and resilience.
Stock Rankings
Benzinga Stock Rankings: Dell's stock scores well in Benzinga’s Edge Stock Rankings, particularly in Momentum (72.00) and Growth (90.41), indicating a favorable price trend in both medium and long terms.
DELL
$133.94+Infinity%1D
Analyst Views on DELL
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 168.00 USD with a low forecast of 113.00 USD and a high forecast of 200.00 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.
17 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 168.00 USD with a low forecast of 113.00 USD and a high forecast of 200.00 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.
13 Buy
3 Hold
1 Sell
Moderate Buy
Current: 130.510
Low
113.00
Averages
168.00
High
200.00
Current: 130.510
Low
113.00
Averages
168.00
High
200.00
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.
Morgan Stanley
Underweight
maintain
$110 -> $113
2025-11-26
Reason
Morgan Stanley
Price Target
$110 -> $113
2025-11-26
maintain
Underweight
Reason
Morgan Stanley raised the firm's price target on Dell Technologies to $113 from $110 and keeps an Underweight rating on the shares. Dell management acknowledged the memory cycle is "unprecedented," but also spoke to better preparedness and guided to preliminary FY27 EPS growth of 15%-plus, which is "well ahead" of the firm's and Street EPS forecasts, the analyst tells investors. While the firm doesn't doubt Dell will manage this cycle better than peers, it still believes growth and/or margins will be impacted, the analyst added.
UBS
Buy
downgrade
$186 -> $167
2025-11-26
Reason
UBS
Price Target
$186 -> $167
2025-11-26
downgrade
Buy
Reason
UBS lowered the firm's price target on Dell Technologies to $167 from $186 and keeps a Buy rating on the shares. Dell reported strong AI demand, while commodity inflation is more of a fiscal 2027 impact, the analyst tells investors in a research note.
Barclays
Equal Weight
downgrade
$151 -> $148
2025-11-26
Reason
Barclays
Price Target
$151 -> $148
2025-11-26
downgrade
Equal Weight
Reason
Barclays lowered the firm's price target on Dell Technologies to $148 from $151 and keeps an Equal Weight rating on the shares. The company reported a Q3 earnings beat on higher gross margin despite rising commodity costs as storage contributed and artificial intelligence server rebounded, the analyst tells investors in a research note. The firm upped estimates post the print but dropped the price target.
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.
