Is Dell Stock a Buy Ahead of Q2 Earnings Today?
TLDR
- Dell reports Q2 earnings after market close Tuesday, with analysts expecting EPS of $4.92-$4.95 and revenue of ~$45 billion
- AI server and networking revenue is projected at $25.2 billion, up 95% year over year
- Dell stock has surged 268% this year and trades at 21.5x forward earnings
- Dell booked $24.4 billion in AI orders in Q1 and raised its FY2027 AI server revenue outlook to $60 billion
- Key debate on Wall Street is not if Dell beats, but whether it raises its AI server revenue target again
Dell Technologies reports Q2 earnings after the bell Tuesday, and the bar is high. Analysts surveyed by FactSet expect adjusted earnings of $4.92 per share on revenue of $44.9 billion, compared to $2.32 per share and $29.8 billion in the same period last year.
The Zacks Consensus Estimate is slightly higher, calling for EPS of $4.95 and revenue of $45.34 billion, which represents 52% year-over-year growth. That puts Wall Street expectations just above Dell’s own Q2 guidance of $44-$45 billion in revenue and adjusted EPS of $4.80, plus or minus $0.10.
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