Dell Technologies Inc. (NYSE:DELL) experienced a surge on Wednesday, with its stock rising more than 9% after Morgan Stanley raised its price target from $128 per share to $152 per share.
This boost reflects growing investor confidence in Dell’s performance and future prospects.
Analyst’s AI revenue expectations
Morgan Stanley analyst Erik Woodring highlighted Dell’s strong position in the artificial intelligence (AI) server market as a key factor in the increased price target.
Woodring projected that Dell will earn approximately $10 billion in AI server revenue in fiscal 2025, which concludes in February next year.
“All-in, we are hearing about more AI server momentum at Dell than at any other OEM [original equipment manufacturer],” Woodring noted, underscoring Dell’s competitive advantage in this rapidly expanding sector.
Dell stock performance
At 2:43 pm ET on Wednesday, Dell’s shares had soared 9.40% to $146.73.
The company’s stock has shown impressive performance throughout the year, skyrocketing over 90% since January.
This surge has been largely driven by the increasing demand for Dell’s AI servers, positioning the company as a leading player in the technology market.
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