What's Going On With Dell Technologies Stock Thursday?

Dell Technologies Inc. -6.77%
Microsoft Corporation -1.33%

Dell Technologies Inc.

DELL

125.17

-6.77%

Microsoft Corporation

MSFT

443.52

-1.33%

Dell Technologies Inc (NYSE:DELL) shares are trading lower Thursday, pulling back from recent strength. Here’s a look at what you need to know.

What To Know: Dell shares are up more than 120% year-to-date on the back of strong demand for AI servers and PCs. The company introduced new AI-powered PCs last week featuring Microsoft Corp’s (NASDAQ:MSFT) Copilot+.

The rally in Dell stock has accelerated in May amid several positive analyst updates and price target revisions, the most recent coming Wednesday when BofA Securities analyst Wamsi Mohan maintained Dell with a Buy rating and raised the price target from $130 to $180.

The stock appears to be taking a breather on Thursday. Salesforce may also be influencing some of the weakness in Dell shares as the broader tech sector is under pressure following the company’s first revenue miss in more than a decade coupled with weak guidance for the second quarter.

Check This Out: Salesforce Stock Is Tumbling Thursday: What’s Going On?

Dell is set to release its fiscal first-quarter financial results after the market close. The company’s recent outperformance sets it up to face lofty earnings expectations. According to estimates from Benzinga Pro, Dell is expected to report earnings of $1.26 per share and quarterly revenue of $21.638 billion.

DELL Price Action: Dell shares were down 4.41% at $171.30 at the time of publication, according to Benzinga Pro.

Photo: Shutterstock.

Every question you ask will be answered
Scan the QR code to contact us
whatsapp
Also you can contact us via