DELL

Dell Technologies Inc.

42.74
USD
-7.51%
42.74
USD
-7.51%
38.33 61.54
52 weeks
52 weeks

Mkt Cap 12.43B

Shares Out 290.85M

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Why Dell Stock Surged Today

What happened Shares of Dell Technologies (NYSE: DELL) climbed 12.9% on Friday after the computer maker reported strong sales and profit growth. So what Dell's revenue jumped 16% year over year to $26.1 billion in its fiscal 2023 first quarter, which ended on April 29. The gains were broad-based. Sales in Dell's Infrastructure Solutions Group -- which provides servers, storage, and networking solutions to corporate clients -- grew by 16% to $9.3 billion. Sales in the company's Client Solutions Group, which sells personal computers (PCs), increased 17% to $15.6 billion. Commercial PC sales were a particularly strong source of growth. Dell's commercial PC revenue leaped 22% to $12 billion, as businesses increased their orders as more of their employees returned to traditional workplaces. "We are positioned to pursue growth wherever it materializes in the IT [information technology] market, given the predictability, durability, and flexibility in our business," co-chief operating officer Chuck Whitten said in a press release. Demand for workplace computers is rising as more people return to offices. Image source: Getty Images. Dell also did an admirable job of managing supply chain disruptions that have plagued the tech industry during the pandemic. The company's cost-control efforts helped its adjusted operating income grow by 21% to $2.1 billion. Its adjusted net income, in turn, soared 36% to $1.4 billion, or $1.84 per share. That was far above Wall Street's expectations. Analysts had anticipated adjusted earnings per share of only $1.39. Now what Dell's strong personal computer sales suggest it's gaining share in the global PC market. Worldwide PC shipments fell 6.8% in the first quarter, according to tech research firm Gartner. "We are built to outperform, in a balanced and consistent way across the company, as our customers invest in their digital futures and choose Dell as their trusted partner," co-chief operating officer Jeff Clarke said. 10 stocks we like better than Dell Technologies Inc. When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Dell Technologies Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. *Stock Advisor returns as of April 27, 2022 Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Dell Technologies Inc. The Motley Fool recommends Gartner. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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