Is Dell Stock a Buy Ahead of Q2 Earnings on September 1?
TLDR
- Dell stock fell 3.39% despite positive analyst commentary ahead of its September 1 earnings report.
- J.P. Morgan maintained a Buy rating with a $565 price target, expecting another revenue guidance increase.
- AI-server market growth forecasts for 2026 jumped to over 80%, up from 64% just 90 days ago.
- Overall server demand forecasts for 2026 rose to 30%, up from a previous estimate of 22%.
- Wall Street expects Q2 earnings of $4.91 per share and revenue of around $44.5 billion.
Dell Technologies (DELL) stock dropped 3.39% on August 28 even as J.P. Morgan backed the company ahead of its Q2 earnings report due September 1.
J.P. Morgan analyst Joseph Cardoso kept a Buy rating on Dell and set a price target of $565. He believes Dell could raise its Fiscal Year 2027 revenue guidance again when it reports results.
Dell already forecasts 47% revenue growth this year. That is a strong number, but Cardoso thinks the actual results could push management to revise higher once more.
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