Key Stats for Dell Stock
- Price change for Dell stock: 4%
- $DELL Share Price as of Apr. 20: $204
- 52-Week High: $206
- $DELL Stock Price Target: $178
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What Happened?
Melius Research raised its price target on Dell (DELL) stock to $245 from $200, while keeping its Buy rating in place. That implies roughly 20% upside from where Dell stock trades today.
Two things drove the upgrade.
- First, Melius sees Dell gaining market share in AI servers as enterprise demand accelerates.
- Second, a Department of Justice indictment against rival Supermicro has created a major opening for Dell to capture business that would otherwise have gone to a key competitor.
- Supermicro’s co-founder was charged with allegedly conspiring to smuggle servers and AI technology into China.
- Melius estimates that Supermicro will ship roughly $47 billion in AI servers over the next four quarters.
- With that business now up for grabs, Dell stock stands to benefit directly.
The analysts were blunt about it: “How in the world can Nvidia and/or AMD trust those guys now?” If Dell captures just one-third of Supermicro’s expected sales, Melius estimates that alone could add around $1 to annual EPS.
The firm also raised its FY2029 EPS estimate for Dell by 7% to $18.84, reflecting stronger-than-expected AI server demand and what they called a “halo effect” from agentic AI pushing enterprises to upgrade broader infrastructure, including storage.
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What the Market Is Telling Us About Dell Stock
Dell’s Q4 FY2026 results already told a strong story.
- Revenue hit $33.4 billion, up 39%.
- AI orders reached $34.1 billion in a single quarter.
- The company exited with $43 billion in AI backlog and
- Dell guided for $50 billion in AI revenue in FY2027.
The Supermicro situation adds a new dimension.
Melius believes Dell stock is now positioned to absorb a chunk of diverted AI server demand that competitors simply cannot fulfill under current scrutiny.
For investors watching the AI infrastructure buildout, Dell appears to be one of the clearest beneficiaries heading into 2026 and beyond.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
