Evercore ISI Says Nvidia May Acquire Large PC Company, Dell and HP Stocks Rise
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 13 2026
0mins
Should l Buy DELL?
Evercore ISI notes that a report from SemiAccurate claims that Nvidia (NVDA) is negotiating the acquisition of a large PC company and that Dell (DELL) and HP Inc. (HPQ) were up 6% and 4%, respectively, intraday. While calling the report "highly speculative," the firm also views it as "incrementally supportive of the broader thesis that AI will ultimately move closer to the edge." The firm sees Dell and HP as positioned well for any acceleration in AI-enabled device demand, the analyst added.
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Analyst Views on DELL
Wall Street analysts forecast DELL stock price to fall
15 Analyst Rating
11 Buy
3 Hold
1 Sell
Moderate Buy
Current: 204.240
Low
113.00
Averages
164.85
High
180.00
Current: 204.240
Low
113.00
Averages
164.85
High
180.00
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.
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- Ownership Structure Analysis: With Michael Dell controlling nearly 60% of the shares, analysts believe any acquisition would need to align with his readiness, making hostile bids unlikely and limiting the number of potential buyers.
- Business Restructuring Strategy: At CES 2026, Dell announced a 'PC reset' by simplifying its product lines into three categories to meet market demands, indicating a possible inclination to divest its PC business to focus on AI infrastructure and enhance profitability.
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- Acquisition Rumors Impact: Dell Technologies (DELL) shares surged due to media reports suggesting Nvidia (NVDA) was considering acquiring a major PC maker, although Nvidia later denied the rumors, highlighting market sensitivity to potential acquisitions.
- Ownership Structure Analysis: With Michael Dell controlling nearly 60% of the shares, analysts believe any acquisition would need to align with his readiness, making hostile bids unlikely and limiting the number of potential buyers.
- Business Restructuring Strategy: At CES 2026, Dell announced a 'PC reset' by simplifying its product lines into three categories to meet market demands, indicating a possible inclination to divest its PC business to focus on AI infrastructure and enhance profitability.
- Market Outlook: Despite the rumors, analysts generally agree that Dell is well-positioned for the next phase of AI infrastructure deployment, with expectations that its higher-margin offerings will drive future earnings growth and further enhance market valuation.
See More
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- Major Donation: The Dells announced a $750 million commitment to the University of Texas at Austin for a new medical center and research campus, marking one of the largest donations ever to a public university in the U.S., reflecting their deep commitment to education and healthcare.
- Medical Center Development: The new medical center will integrate artificial intelligence and advanced computing to provide earlier and more precise patient treatments, with an expected opening in 2030, significantly enhancing healthcare capabilities in the Austin area and attracting more medical talent.
- Historical Connection: Dell founded his technology company at UT Austin in 1984, and this donation is seen as a way to give back to his alma mater, emphasizing his commitment to education and support for his hometown, further solidifying his ties to Austin.
- Philanthropic Commitment: The Dells have contributed over $10 billion in total charitable donations, including a recent commitment of $6.25 billion to fund
See More
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- Oil Price Surge Amid Tensions: Renewed tensions in the Strait of Hormuz have led to rising oil prices, with the U.S. seizing an Iranian commercial ship attempting to evade a Navy blockade, potentially impacting global oil markets.
- M&A Activity on the Rise: Roofing and construction supplies distributor QXO has agreed to acquire installation firm TopBuild for $17 billion, positioning QXO as a leader in waterproofing and insulation, which is expected to significantly enhance its market share.
- Optimistic Apple Earnings Forecast: Morgan Stanley anticipates Apple will report quarterly earnings per share of $2.02 and revenue of $110.82 billion, exceeding market expectations, with analysts expressing confidence in Apple's supply chain management capabilities and maintaining a $300 price target.
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See More
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- Lumentum's Positive Outlook: JPMorgan analyst Chatterjee raised Lumentum's price target from $565 to $950, anticipating earnings per share of $24 by 2027, reflecting strong confidence in future demand driven by surging needs for optical networking and related components.
- Broadcom's Partnership Boosts Confidence: Benchmark analyst Acree reiterated a buy rating on Broadcom with a price target of $485, as the multi-year deal with Meta is expected to propel AI chip revenues beyond $100 billion, further solidifying its leadership in the AI accelerator market.
- Dell's Market Share Growth: Mizuho analyst Rakesh increased Dell's price target from $180 to $215, forecasting server orders of $53 billion and $68 billion for 2027 and 2028, respectively, benefiting from rising AI server demand and market disruptions affecting competitor Super Micro.
- Investment in AI Infrastructure Rising: Analysts project cloud service providers' capital expenditures to reach $689 billion in 2026, reflecting a 64% year-over-year growth, which will drive Dell's market share in AI servers from 19% in 2025 to 25% by 2029, indicating strong growth potential in this sector.
See More
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- Significant Contract Value: EMC has secured a ceiling IDIQ contract worth $984.3 million, focusing on instrumentation, configuration, and data tech support, showcasing the company's robust capabilities in modernization and sustainment.
- Project Timeline: The work will be conducted in Irvine, California, and is expected to run through April 2036, ensuring a long-term revenue stream and stable business development.
- Clear Funding Allocation: At the time of the award, $121,000 in FY2026 funds for operations, maintenance, and R&D were obligated, indicating the company's commitment and effective management of project funding.
- Military Management Context: Managed by the Air Force Test Center, this contract further solidifies EMC's position in the defense and government contracting space, potentially paving the way for future similar projects.
See More
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- FedEx Restructuring: FedEx is spinning off its less-than-truckload unit, FedEx Freight, expected to complete by June 1, a move that typically creates more shareholder value, with Jim praising CEO Raj Subramaniam for navigating a competitive landscape effectively.
- Removed Stocks: Jim removed Airbnb and Marvell Technology from the watchlist, citing Airbnb's episodic performance as a concern, while Marvell's 57% rally in 2026 indicated a missed buying opportunity.
- Market Monitoring: Jim continues to monitor Sempra and RTX Corporation, with Sempra up over 8% year-to-date, while RTX could benefit from increased defense production, with Jim planning to decide post RTX's first-quarter results on April 21.
See More
