Dell Technologies (DELL) shares have seen solid momentum over the past month, rising 14%. Investors are sizing up the stock’s performance, with its strong track record and improving annual results in focus.

This latest move caps off an impressive run for Dell Technologies, with a 13.8% share price gain over the past month stacking on top of robust longer-term returns. Momentum has clearly been building, supported by a 25.6% total shareholder return over the past year and an eye-popping 327.5% total return over three years. During this time, the company has posted stronger annual growth in both revenue and net income.

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The big question now is whether Dell shares still present an attractive entry point, or if the recent rally means future growth is already reflected in today’s price. Is this a buying opportunity, or is the market one step ahead?

Most Popular Narrative: 1.9% Undervalued

The narrative places Dell Technologies’ fair value slightly above its last close, giving bulls a modest edge over the market price. Market-watchers are closely observing the dynamics pushing this premium higher, especially as demand for AI gains traction.

Bullish analysts point to Dell's heightened long-term financial framework and growing confidence in the company's ability to capitalize on artificial intelligence (AI) opportunities. This suggests potential for sustained outperformance.

Craving the story behind Dell’s hot valuation? This narrative hinges on bold growth projections and rising profit margins, setting the stage for a possible financial leap. What new market shifts, numbers, or strategic bets are powering these fair value upgrades? The complete narrative reveals which trends and which forecasts are making all the difference.

Result: Fair Value of $163.18 (UNDERVALUED)

However, persistent margin pressures in core hardware and a slow rebound in enterprise server demand could pose challenges to Dell's upbeat growth story in the future.

Build Your Own Dell Technologies Narrative

If you have a different perspective or want to uncover your own angle on Dell, it only takes a few minutes to craft a personalized view. Do it your way.

A great starting point for your Dell Technologies research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.