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DELL
Dell TechnologiesNYSEInformation TechnologyComputer HardwareSnapshot 2026-06-12
Intact
$395.57+1.05%
Close 2026-06-12 · 1-day change
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
The bottom line
Recent financial performance is strong, but management's recent track record has been unsteady, with frequent disruptive corporate changes. Earnings quality is mixed, and risk is elevated, while the sector backdrop is a tailwind. Peer multiples imply a price about 34% below where it trades (it looks expensive on this basis); the read is fair. The outlook hinges on whether DELL cuts guidance on the next call, which could negatively impact estimates. This read is provisional.
as of 2026-06-12
Quick facts
- Exchange
- NYSE
- Sector
- Information Technology
- Industry
- Computer Hardware
- Market cap
- $252.29B
- Employees
- —
- IPO date
- 1988-06-22
- Next earnings
- —
Price
Daily closes. Earnings/event dots are placed inline.
Adjusted daily closes (split & dividend). Scroll over the chart to zoom; click a range to reset.
EarningsMaterial event
What's priced in
(what the market already expects)What it's worth (estimated)
A consensus fair price across 8 valuation methods, at three horizons. Current price $395.57. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
12-month· primaryexpensive
$287.21consensus
Range $257.22 – $331.72
vs price: +38% above
Method agreement — · 8 methods
No-growth: today's peer multiple on trailing earnings. The headline read.
3-yearinexpensive
$593.01consensus
Range $478.25 – $860.84
vs price: -33% below
Method agreement — · 6 methods
Embeds projected growth. Leans optimistic by design. Upside context.
5-yearinexpensive
How much to trust our fair value
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
Re-ratingmedium confidence
At $396 DELL trades at 29× p/e — 1.3× the 22× p/e peer median, and above its own 13× history. The market is re-rating it beyond its own range; our $306 fair value is medium-confidence here. Analysts: $101–$700. Not investment advice.
Multiple (P/E)
29.0x
peer 22.3x · own history 13.5x
Premium
1.3x peer
2.2x its own history
Growth the price needs
29%
our forecast —
Our fair value
$306.17
range $268.62 – $331.72
Analyst range(a guide on our number, not a target)Our number is in the analyst range
How this stock is priced
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Long-term · 1–3 yr
expensivefair12-month view
What's priced in
The market is pricing in roughly 29% of near-term growth above a flat-multiple fair value; not enough history to forecast a comparison. This describes what's priced in, not a forecast of the move.
Low fragilityrisk posture, not a price call
Only weak execution quality, a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
Historical context
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Compared to peers
How strong is the business
(quality & execution)Factor signals
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Recent financial performance
strongOperating income rose in 3 of the last 3 quarter-over-quarter moves. Historically, Information Technology names rated strong grew net income 73% of the time over the next year (vs 58% for the rest of the cohort, n=2777).
92nd pctl · Information Technology
Earnings quality
neutralOver the trailing year it converted 1.48x of net income into operating cash flow. Historically, Information Technology names rated neutral grew net income 62% of the time over the next year (vs 58% for the rest of the cohort, n=2831).
43rd pctl · Information Technology
Macro sensitivity
Most sensitive to the broad stock market.
- the broad stock market: This stock moves with the broad market (high beta).
Not enough signal to read sensitivity to the US dollar, long-term interest rates, real (inflation-adjusted) rates, Fed net liquidity.
Management & capital allocation
volatileEarnings setup & market context
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
Earnings setup · pre-print positioning
forward-looking
Strongly bullishEPS revised +66.2% / 30d, n=22for period ending 2026-07-31
Why this setup
Consensus revisions
EPS estimate $2.94 → $4.88 (+66.2% / 30d). 19 raised, 0 cut, 22 covering analysts.
Rating actions
2 upgrades, 0 downgrades / 30d, 18 maintained. 71% of analysts rate Buy.
Price target activity
16 PT revisions / 30d. Avg target 21.9% above current price.
Material events
1 positive, 2 negative / 30d. See F4 management tile for the event list.
Market and fundamentals agree. Analysts are positioned bullishly on a fundamentally strong name.
Sector context
Intermediate · WeeklyManagement scorecard
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Long-term · 1–3 yr
Overall: strong
- Capital allocation
- neutral
- Earnings discipline
- neutral
- Margin discipline
- strong
- Balance sheet
- strong
- Post-call reaction
- neutral
Met or beat guidance 50% of the last 2 guided quarters · -20.6% avg surprise
How bumpy is the path
(risk while you hold it)Risk: how this stock moves
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
Intermediate · WeeklyLong-term · 1–3 yr
On a typical day, $10k can swing ±$266.
How much price usually moves either way.
On a bad day, this stock has moved -$489.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $3,232.
Deepest peak-to-trough drop in the last year.
elevatedas of 2026-06-12
Past results, not a forecast. Not investment advice.
What would change the read
(catalysts & re-read triggers)What changed
The most important moves since the prior daily snapshot.
Short-term · Daily
- score change · valuation_scoremoderate change
Valuation rose by 28.1 points (from 14.9 to 43.0).
- label change · valuation_labelsmall change
Valuation label changed from 'full' to 'expensive'.
No material changes since the prior snapshot.
as of 2026-06-12
What to watch next
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Intermediate · Weekly
- UpsideHigh confidenceQuartersactive 18d
Watch for Q1 revenue growth exceeding 10%
Why it matters: Strong revenue growth would show that Dell is on track with its growth goals.
What confirms / what disproves
Confirms:Q1 revenue growth reported above 10% year over year.
Disproves:Q1 revenue growth reported below 5% year over year.
Management priorities
News catalysts
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for DELL yet.
This sector is also watching
- Watch for revenue growth in Information Technology to fall below the median.
What could change this view
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Intermediate · Weekly
Upside triggers
- If the Fed starts cutting rates from the current 3.62%, that would be a tailwind for DELL and other Tech names, since rate-sensitive parts of the market tend to rally when the Fed eases.
- If sector bellwethers like SNDK, ANET, and STX keep beating earnings and guiding higher, the Tech sector momentum should keep lifting DELL and other Tech names. Worth watching these names for early signals.
- If DELL raises forward guidance on the next earnings call (currently NEW as of 2026-05-28), that's a momentum boost. Street estimates typically follow guidance up and the stock tends to re-rate higher.
Downside triggers
- If DELL cuts guidance on the next call (currently NEW as of 2026-05-28), that's a meaningful negative. The Street tends to walk down estimates and the stock usually takes a leg lower.
- If sector bellwethers like SNDK, ANET, and STX start missing or guiding lower, the Tech tailwind helping DELL and other Tech names could fade. Watch these names for early warning.
Recent events
(material 8-K / filing activity)Material updates
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
- 2026-06-103d agoItem 1.01
of this Current Report on Form 8-K is incorporated by reference herein. Existing Credit Agreement In connection with the entry into the Credit Agreement, on June 10, 2026, Dell International and EMC repaid all outstanding obligations under the credit agreement, dated as of November 1, 2021, among the Company, Denali Intermediate Inc., Dell Inc., Dell International, EMC, JPMorgan Chase Bank, N.A., as administrative agent, and each of the lenders and other parties from time to time party theret…
Capital allocationneutral
Score history
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
About the same as last weeklatest as of 2026-06-13
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.