Dell's Stock Price Has Nearly Doubled in 2024. Is It Still a Buy?

Dell's AI server business has investors fired up about surging demand. In its most recent quarter -- reported on Feb. 29 -- Dell did beat Wall Street's estimates thanks to exceptionally strong demand in its storage segment. Its AI servers backlog nearly doubled during the quarter, suggesting that sales are about to take off in the next few quarters. Analysts now expect 5% to 6% revenue growth in each of the next two years, with earnings growth outpacing the top line. The revised forecasts represent nearly 1 ...