Bank of America Says Dell Technologies Inc. (DELL) Still a ‘Buy’ Amid Early AI Adoption Surge

We recently published a list of 10 AI Stocks Gaining Wall Street’s Attention. In this article, we are going to take a look at where Dell Technologies Inc. (NYSE:DELL) stands against other AI stocks that are gaining Wall Street’s attention.

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.

Bank of America Says Dell Technologies Inc. (DELL) Still a ‘Buy’ Amid Early AI Adoption Surge

A team of IT experts discussing the latest network security trends over a laptop screen.

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.”

Overall, DELL ranks 7th on our list of AI stocks that are gaining Wall Street’s attention. While we acknowledge the potential of DELL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than DELL and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.