10 AI Stocks Gaining Wall Street’s Attention

7. Dell Technologies Inc. (NYSE:DELL)

Number of Hedge Fund Holders: 63

On May 29, Bank of America reiterated Dell Technologies Inc. (NYSE:DELL) as “Buy” and raised its price target from $150 to $155.  The firm said Dell remains well-positioned following earnings on Thursday. Dell Technologies Inc. (NYSE:DELL) provides IT solutions, including servers, storage, networking, and personal computing devices, to businesses and consumers worldwide.

The firm is optimistic about the stock based on factors such as early stages of AI adoption, beneficial product mix margins, and the expected demand from an upcoming PC refresh cycle. Moreover, the long-term adoption of AI in PCs is also seen as a positive factor.

The firm’s analysis and Dell’s recent financial report also suggest a strong trajectory for the company, particularly in the AI server market. The increased price target reflects the firm’s optimism that Dell can capitalize on emerging technology trends to deliver growth in revenue and earnings on a continued basis.

“Reiterate Buy as we are still in the early stages of AI adoption, margins from mix, and tailwind from upcoming PC refresh and longer-term AI PC adoption.”