戴尔科技公司 （ NYSE： DELL ）将于2025年8月28日盘后 公布 2026年第二季度业绩， 分析师预期 将接近指引区间的上限。 过去90天，分 析师已将每股收益上调13倍，下调3倍，这表明市场对戴尔业绩的预期很高。 | Dell Technologies q2'25 Estimates | Del Monte | Consensus | Guidance | | --- | --- | --- | --- | | Revenue | 29,199 | 29,192 | 29.000 | | Adjusted EPS | 2.30 તર | 2.29 | 2.25 | 鉴于市场对人工智能基础设施（尤其是企业采用）的乐观态度，分析师对戴尔股票给予买入评级，目标价为每股 153 美元，相当于 eFY28 EV/aEBITDA 的 9.36 倍。 2026年第二季度收益值得关注的是： 除了人工智能优化的基础设施增长外，随着客户整合和现代化数据中心，戴尔的传统服务器业务也实现了两位数增长。鉴于戴尔现有客户群中 有大量14代及更老的服务器，戴尔或将迎来其16代和17代服务器的强劲更新换代机会。 【如需和我们交 ...

Core Insights - The article highlights the significant growth of AI PC shipments, with 15.4 million units expected in Q4 2024, representing 23% of total PC shipments for the quarter [1] - Apple leads the AI PC market with a 54% share, followed by Lenovo and HP at 12% each, indicating a strong competitive landscape [1] - The impending end of Windows 10 support is driving a replacement cycle, with one-third of channel partners citing it as a key factor for device upgrades in 2025 [3] Market Trends - AI PC shipments are projected to account for 17% of total PC shipments in 2024, with a quarter-over-quarter growth of 18% [1] - The commercial deployment of AI PCs is gaining momentum, with manufacturers launching products tailored for enterprise users [2] - The introduction of new product strategies by companies like Intel and Qualcomm aims to capture different market segments, particularly in the mid to high-end range [2] Competitive Landscape - Apple has shown strong performance in the AI PC market, achieving a 10.2% overall market share and 45% in the AI PC segment in Q4 2024 [6] - The shift in Dell's branding strategy reflects a broader industry trend towards simplification and user-centric approaches [5] - The competitive dynamics are influenced by trade policies, particularly U.S. tariffs on Chinese imports, which could impact pricing and market demand [3] Product Development - The total shipment of Windows AI PCs grew by 26%, making up 15% of all Windows PC shipments in Q4 2024 [5] - Companies are increasingly integrating AI-driven software into their product lines, enhancing user experience and differentiation [5] - The introduction of Apple's Intelligence features across its devices signifies a trend towards improved personalization and productivity through AI [5]