Dell (DELL): The Quiet Quarterback of the AI Build-Out 🖥️
Dell just raised its AI server forecast to $20B, shipped $8.2B last quarter, and holds an $11.7B backlog. Despite cautious guidance and a stock dip, the fundamentals point higher—making Dell a stealth AI infrastructure winner heading into October catalysts.
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DELL just printed a record quarter on AI servers, raised full-year AI shipment guidance to $20B, and still sold off on cautious Q3 EPS guidance—a classic case of “strong fundamentals, noisy headlines.” With a fat AI backlog, an October PC refresh tailwind, and an Investor Day in early October, we like DELL this week into the next few months on pullbacks, with a clear risk line.
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