Why Dell Technologies Stock Jumped Over 20% Last Month
Shares of Dell Technologies (NYSE: DELL) jumped 20.5% in March, according to data provided by S&P Global Market Intelligence. The entirety of this big gain happened on the first day of the month, right after the company released financial results for its fiscal fourth quarter of 2024.
To be clear, it's not as if Dell's financial results were necessarily impressive in isolation. The company's net revenue was down 14% year over year in its fiscal 2024 and down 11% in Q4. A weak PC market isn't helping its numbers. And the drop in revenue led to a 10% drop in full-year operating income.
Dell stock nevertheless surged to an all-time high in March because investors are looking past the trailing numbers and toward the company's potential with artificial intelligence (AI).
Source Fool.com
