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Big market-cap stocks like Workday and Apollo Global Management top the list of possible admissions. Coinbase Global, Trade Desk, and Ferguson Enterprises have a shot too.
Dell Technologies (DELL) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Though Nvidia's stock price has retreated from its recent highs, its valuation remains pricey. Dell has been generating strong results of late, and its growth rate could accelerate in the near future.
Dell Technologies Inc. remains a strong investment due to its positioning in the growing AI market and upcoming PC refresh cycle. Positive news and analyst ratings, coupled with Dell's focus on AI and efficiency, suggest significant undervaluation and potential for growth. Dell's Q3 and Q4 outlooks are promising, with expected revenue growth driven by AI server demand and potential Nvidia Blackwell shipments.
Dell plans further workforce cuts and limits external hiring through February 2025. Dell is taking measures to minimize spending and to adapt to an AI world.
Dell Technologies Inc. (NYSE:DELL ) Goldman Sachs Communacopia + Technology Conference September 10, 2024 6:45 PM ET Company Participants Jeff Clarke - Vice Chairman and Chief Operating Officer Conference Call Participants Mike Ng - Goldman Sachs Mike Ng Great. Thank you, everybody, for joining the session.
Super Micro Computer, Inc.'s SMCI shares have seen a meteoric rise over the past three financial years due to increased demand for artificial intelligence (AI) chips. At the beginning of the year, the SMCI stock even outperformed Wall Street darling semiconductor stock NVIDIA Corporation NVDA, which helped Super Micro get a position in the S&P 500 index in mid-March (read more: NVIDIA Wipes Out $400B in Value: Buy, Hold, or Sell NVDA Stock?
Dell Technologies' stock has rebounded from its recent low, driven by strong earnings and AI enterprise growth, making it a solid investment. Dell's re-entry into the S&P 500 and robust sales growth position it for multiple expansion and a higher stock price. Dell's forward P/E ratio is undervalued at below 12, with the potential to reach 15-17, implying a stock price of $150-$170.
Tech stocks were in focus Monday on news Palantir and Dell are two of the S&P 500's newest members.
Jay Woods, Freedom Capital Markets chief global strategist, joins 'Power Lunch' to discuss stock plays for three stocks.