Dell

Dell Technologies’ (DELL) remarks around artificial intelligence servers were encouraging and showed the company’s AI story is in early days and “gaining momentum,” Morgan Stanley said Friday. The computer maker late Thursday delivered better-than-expected fiscal Q4 results. The management’s AI server commentary “stole the show,” with backlog almost doubling and orders increasing about 40% sequentially, Morgan Stanley said in a note. The brokerage raised its price target on the Dell stock to $128 from $100. “While Dell has had a phenomenal run over the last 12 months, we believe there is still further outperformance to capture, and a hard catalyst to drive this re-rating, allowing us to reinstate Dell as our top pick,” Morgan Stanley said. The company’s shares were up nearly 26% in recent trading.

The following is a summary of the Dell Technologies Inc. (DELL) Q4 2024 Earnings Call Transcript: Financial Performance: Dell reported FY24 revenue of $88.4 billion, operating income of $7.7 billion and EPS of $7.13. Q4 returned revenue of $22.3 billion, an operating income of $2.1 billion, and diluted EPS of $2.20. Dell generated $8.7 billion cash flow from operations with improved cash conversion cycle to negative 47 days. They delivered improved operating margin rate by focusing on higher gross margins and managing operating expenses effectively. Dell Financial Services origins were $8.4 billion for the year and $2.5 billion in Q4, with DFS managed assets concluding the year at $14.4 billion. Dell announced a 20% increase in annual dividend to $1.78 per share. Business Progress: AI-optimized server portfolio, especially the flagship PowerEdge XE9680 showed positive momentum in Q4 with nearly 40% sequential growth in orders. Dell witnessing three consecutive quarters of

Bernstein analyst Toni Sacconaghi maintains Dell Technologies with a Outperform and raises the price target from $90 to $120.

By Callum Keown Dell Technologies stock was set to open at a new record high Friday, but Thursday’s upbeat earnings could also give Nvidia and Advanced Micro Devices, who power its servers, an extra boost. Dell stock soared 24% to $117 ahead of the open, while Nvidia edged 1% higher and AMD rose 3%. “While the Nvidia ‘sizzle’ from the Dell call was so obvious, you may not realize how good this Dell quarter was for AMD,” Melius Research analyst Ben Reitzes said in a note Friday. “Traditional server CPUs picking up helps support AMD margins and lends further upside to its data center segment,” he added. Reitzes said that Intel may also benefit from Dell’s commentary around servers, but that upside from PC sales for the company, and AMD, won’t come along for another few quarters. Melius analysts have a Buy rating on Dell with a price target of

Dell Technologies Delivers Fourth Quarter and Full Year Fiscal 2024 Financial Results PR Newswire ROUND ROCK, Texas, Feb. 29, 2024 News summary — Fourth quarter revenue of $22.3 billion and full-year revenue of $88.4 billion — Full-year operating income of $5.2 billion and non-GAAP operating income of $7.7 billion — Full-year cash flow from operations of $8.7 billion — Full-year diluted earnings per share of $4.36 and non-GAAP diluted earnings per share of $7.13 — Announcing a 20% increase in annual cash dividend to $1.78 per common share ROUND ROCK, Texas, Feb. 29, 2024 /PRNewswire/ — Full story Dell Technologies (NYSE: DELL) announces financial results for its fiscal 2024 fourth quarter and full year. Fourth quarter revenue was $22.3 billion, down 11% year over year. Operating income was $1.5 billion and non-GAAP operating income was $2.1 billion, up 25% and down 1% year over year, respectively. Cash flow from operations

Dell Technologies: AI-Optimized-Server Orders Increased Nearly 40% Sequentially.

Dell Technologies (NYSE:DELL) reported quarterly earnings of $2.20 per share which beat the analyst consensus estimate of $1.73 by 27.17 percent. The company reported quarterly sales of $22.30 billion which beat the analyst consensus estimate of $22.16 billion by 0.62 percent. This is a 10.94 percent decrease over sales of $25.04 billion the same period last year.

DELL TECHNOLOGIES Reports Q4 Revenue $22.3B, vs. Street Est of $22.17B.

By Denny Jacob Dell Technologies reported a double-digit increase in adjusted net income for the fourth quarter as demand for its AI-optimized servers heated up. The PC-maker on Thursday said its bottom line, adjusted for one-time items, increased 22% for the quarter ended Feb. 2. Its top line declined to $22.32 billion, but came in slightly better than Wall Streets forecasts. Our strong AI-optimized server momentum continues, with orders increasing nearly 40% sequentially and backlog nearly doubling, said Chief Operating Officer Jeff Clarke. The Round Rock, Texas-based companys Infrastructure Solutions segment increased 10% overall from the AI boost, while storage revenue rose 16%. Dell said orders for its AI-optimized servers came from a wider range of customers and geographies. Here is how Dell did in the fourth quarter: — Revenue declined 11% to $22.32 billion from $25.04 billion in the year-ago quarter. Analysts expected $22.17 billion. — Adjusted net income

Dell Technologies (DELL) reported fiscal Q4 non-GAAP earnings late Thursday of $2.20 per diluted share, up from $1.80 a year earlier. Analysts polled by Capital IQ expected $1.72. Net revenue for the quarter ended Feb. 2 was $22.32 billion, down from $25.04 billion a year earlier. Analysts surveyed by Capital IQ expected $22.17 billion. Dell said it’s raising its annual dividend by 20% to $1.78 per share, with $0.445 per share for the first quarterly distribution payable on May 3 to shareholders on April 23. The company’s shares were rising past 15% in recent Thursday after-hours trading.

Dell Technologies (DELL) is expected to see continued momentum in its server business and further growth in orders in its fiscal fourth quarter, with artificial intelligence servers and AI-enabled personal computers likely to drive growth in the medium term, BofA Securities said. The computer maker is scheduled to report its fourth-quarter financial results Thursday. BofA projects per-share earnings at $1.73 on revenue of about $22.24 billion. Wall Street is looking for $1.72 and $22.15 billion, respectively, according to the brokerage. In the previous quarter, the company’s pipeline for AI-optimized servers tripled sequentially, Chief Operating Officer Jeff Clarke said in November on a call discussing Dell’s third-quarter results, according to a Capital IQ transcript. Demand was ahead of supply, Clarke told analysts at the time, adding that the company was working to convert its pipeline “into real sales, into orders.” “Given its focus on enterprise (versus) hyperscale, Dell should see strong

Dell Technologies (DELL) likely faces a “tricky” earnings setup amid subdued near-term hardware spending, which could prompt the computer maker to guide April-quarter financial results below market consensus, Morgan Stanley said Wednesday. Dell is scheduled to report fiscal Q4 results Feb. 29. Morgan Stanley projects adjusted earnings at $1.73 per share on revenue of $21.82 billion. The company’s forward-looking outlook and artificial intelligence server backlog could see “some downside risk” in next week’s report, Morgan Stanley said in a note. “This creates a tricky earnings setup, but we’re ultimately buyers on any post-earning weakness,” the brokerage said. “Eventual S&P 500 inclusion, new/notable AI server wins, and a return to PC market growth represent key stock catalysts we see over the 12 months.” Morgan Stanley raised its price target on the Dell stock to $100 from $89 while reiterating its overweight rating, according to the note.