Ben Reitzes, Melius Research’s head of technology research, said in a recent program on CNBC that Dell is a cheap stock.
“Dell Technologies Inc has a role as enterprises pick up AI and need to make use of their data on-prem. Plus, Dell’s a cheap stock, and Michael’s been on this. He’s got a cheap stock, he’s buying back stock. I mean, we only went to a 15 multiple. These guys used to get a 30 multiple back in the day. There’s a shot that a lot of these hardware companies get over a market multiple or better, and the SaaS companies become the old hardware and go to single-digit multiples. I’m not kidding. I mean, that’s how much disruption there is.”
