10 Trending AI Stocks on Wall Street

8. Dell Technologies Inc. (NYSE:DELL)

Number of Hedge Fund Holders: 54

Dell Technologies Inc. (NYSE:DELL) is one of the 10 Trending AI Stocks on Wall Street. On October 7, Raymond James analyst Simon Leopold reiterated an Outperform rating on the stock with a $152.00 price target. The rating affirmation follows Dell’s securities’ analyst meeting in New York.

The company reported how Dell’s AI-activity has exceeded forecasts and prompted the management to increase its sales and earnings growth targets. Even though EPS and revenue outlooks have improved, modest margins may cap valuation gains as compared to peers.

“Dell held its securities’ analyst meeting today in New York to discuss key market trends and growth drivers, while also updating its long-term targets. AI-activity has far exceeded the forecasts that Dell previously provided at its last meeting in 2023, and this trend is the primary factor driving revised higher outlook for sales and earnings growth. We believe Dell’s long-term EPS growth outlook for 15%-plus, nearly double sales growth, is good news, but investors consider the modest gross and operating margins as a basis for applying a lower stock multiple than IT/networking peers. The ISG growth target increased, while the CSG outlook remains unchanged, resulting in a total long-term revenue growth outlook which improved to 7–9% from 3–4%. Shares were initially trading up ~3% intraday, counter to the sell-on-the-news that we have observed following other tech analyst meetings, but the market has faded with Dell up 1% at the time of this writing.”

Dell Technologies Inc. (NYSE:DELL) provides IT solutions, including servers, storage, networking, and personal computing devices, to businesses and consumers worldwide.