Dell Fiscal Q4: Early Shoots from AI Servers

Dell stock shot up 31% following its fiscal Q4 results. The market was excited to see orders for AI-optimized surge 40% QoQ despite only contributing 5% of overall revenue. There is certainly room in Dell’s valuation when management convinces the market it’s a serious AI player with each subsequent earnings report. Compared to other AI stocks, Dell is a slow-growth company, per analyst estimates. As a percentage of revenue, SMCI has 50% AI revenue versus Dell’s 5% AI revenue.

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