Dell (DELL) is quietly emerging as a major beneficiary of the AI infrastructure boom, too. 
Analysts at Barclays recently upgraded Dell to an overweight rating, citing growing confidence in the company’s positioning within the AI server market. Barclays also maintained its $148 price target.

Fueling upside is the strength of Dell’s AI server orders, which continue to exceed expectations as enterprises and hyperscalers build out AI-capable data centers. Unlike some competitors, Dell has managed to balance strong demand growth with stable operating margins, a sign of disciplined execution in a competitive market.

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Barclays also highlighted expanding opportunities in enterprise server and storage, areas where Dell has long-standing customer relationships and a well-established sales channel. 

According to Barclays, “We are more positive on DELL given the strength in AI server orders, stability of AI op margins, expanding opportunities in enterprise server and storage, and DELL’s consistent disciplined opex management,” as quoted by CNBC.

From a technical standpoint, Dell recently found strong double-bottom support around $115.

Last trading around $123.18, Dell could initially target a move back toward $130, which would represent a key near-term resistance level and further confirm the improving trend.

Sincerely,

Ian Cooper