Dell Stock Slumps Despite Earnings Beat on Strong Demand for AI Servers
DELL Analyst Ratings Estimates Forecasts - Yahoo Finance
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Dell Technologies Inc. (DELL) stock fell on Wednesday despite the company reporting better-than-expected earnings in the fiscal fourth quarter, driven by strong demand for its artificial intelligence (AI) servers.
Dell reported earnings per share of $1.31, beating analyst estimates of $1.27. Revenue also came in above expectations, at $27.41 billion compared to the consensus estimate of $27.33 billion.
The company's strong results were driven by growth in its infrastructure solutions business, which includes servers, storage, and networking products. Dell said that demand for its AI servers was particularly strong, as customers continue to invest in AI and machine learning capabilities.
Despite the positive earnings report, Dell's stock price fell by over 3% in premarket trading. Analysts cited concerns about the company's exposure to the slowing PC market and the potential impact of the ongoing chip shortage.
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