Dell Price Target Lowered to $160 in Pre-Earnings Review

Company Overview - Dell Technologies Inc. was founded in 1984 and is headquartered in Round Rock, Texas, focusing on developing and marketing personal computers, servers, storage solutions, networking equipment, and related services for both enterprise and consumer customers globally [4] Financial Performance and Guidance - For the fourth quarter of fiscal 2026, Dell projects revenue between $31 billion and $32 billion, with revenue from the Infrastructure Solutions Group and Client Solutions Group expected to grow approximately 34% at the midpoint [3] - The company anticipates robust demand for AI servers, forecasting $9.4 billion in fourth-quarter AI server shipments and approximately $25 billion for the full fiscal year, representing a 150% year-over-year growth [3] - Operating income is expected to increase by 21% sequentially, driven by momentum in AI and strength in storage [3] - Full fiscal 2026 guidance includes revenue of $111.7 billion, up 17%, and non-GAAP EPS of $9.92, up 22% at the midpoint [3] - Management expressed strong confidence in fiscal 2027, supported by a growing AI backlog and an expanding customer base, indicating sustained AI-driven growth and operating leverage [3] Market Sentiment - On February 17, Citi lowered its price target on Dell Technologies to $160 from $165 while maintaining a Buy rating, reflecting broader adjustments in the hardware sector amid mixed end-demand commentary ahead of fourth-quarter earnings [2]