Dell Technologies Stock Has 18% Upside, According to 1 Wall Street Analyst
Dell Technologies (NYSE: DELL) stock is red hot -- not because PC demand is growing, but because investors have decided that Dell is now an artificial intelligence (AI) stock, a realization that tripled the share price of the computer company over the last 52 weeks.
Last quarter, Dell shipped $800 million worth of AI-optimized servers, as Bank of America analyst Wamsi Mohan points out in a report covered by StreetInsider, and Dell's backlog of AI server orders nearly doubled in comparison to fiscal Q3 2024. Anticipating that this momentum will continue, Mohan raised his price target on Dell stock Wednesday, to $130 a share -- implying an 18% upside.
Dell is riding a tailwind from the AI revolution, and this is why Mohan believes the stock will continue to outperform the market. But could it be that $130 is too much to pay for a share of Dell stock over the next year?
Source Fool.com