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Benzinga

Business

Henry Khederian

Dell Shares Dip Amid Market Jitters Despite Bullish AI Outlook

Dell Dell Technologies Wamsi Mohan Benzinga Edge

Dell

Dell Technologies Inc (NYSE:DELL) shares are trading lower Wednesday afternoon, caught in a broader market downdraft that has particularly impacted technology and AI-related stocks. The move comes just over a week before the company is scheduled to report its fiscal second-quarter earnings on Thursday, August 28.

What To Know: Despite the day’s weakness, recent analyst commentary and company updates paint a robust picture for Dell’s AI server business. Bank of America analyst Wamsi Mohan recently reiterated a Buy rating and a $165 price target, projecting Dell will report revenue of $29.4 billion and EPS of $2.35 for the quarter, both above consensus estimates of $29.17 billion and $2.275, respectively.

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