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What's Going On With Dell Stock On Thursday?

Anusuya Lahiri
·2-min read
What's Going On With Dell Stock On Thursday?
What's Going On With Dell Stock On Thursday?

Dell Technologies Inc (NYSE:DELL) shares are trading higher as AI-related stocks gained in sympathy with partner Nvidia Corp (NASDAQ:NVDA).

Meanwhile, Dell and Ericsson (NASDAQ:ERIC) collaborated to combine their industry expertise with telecom software, solutions, and support, guiding communications service providers (CSPs) through their radio access network (RAN) cloud transformation journeys.

CSPs aim for network cloud and operations transformation to improve economics and agility while maintaining network reliability.

Also Read: Dell Trims Workforce and Projects PC Growth Amid Revenue Challenges and VMware Changes

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In 2023, Ericsson and Dell Technologies partnered to develop Cloud RAN solutions, leveraging Ericsson Cloud RAN software and RAN equipment paired with Dell Technologies infrastructure.

Dell and Ericsson’s partnership aims to address time, budget, reliability, and security concerns during network transformation.

Analysts named Dell the top pick to tap the growing AI server momentum, inflecting storage demand and an improving PC market. They also flagged repeat purchase orders from Dell’s existing customer base, and a critical competitive AI server win from Tesla Inc (NASDAQ:TSLA).

In March, Dell reported fiscal fourth-quarter sales of $22.3 billion, beating the analyst consensus estimate of $22.16 billion, reflecting increasing demand for its AI servers. The company reported EPS of $2.20 per share, which beat the analyst consensus estimate of $1.73.  It announced a 20% boost in annual cash dividend to $1.78 per share.

Dell stock gained 219% in the last 12 months. Investors can gain exposure to the stock via Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) and First Trust Bloomberg Shareholder Yield ETF (NASDAQ:SHRY).

Price Action: DELL shares are trading higher by 6.77% to $157.80 premarket at last check Thursday.

Photo via Shutterstock

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