Dell Technologies (DELL) Stock: AI Server Growth, PC Headwinds, and Earnings Outlook

Dell’s share price has been volatile. Intel’s warning about rising memory costs and declining PC shipments, combined with concerns about tighter data center approvals, contributed to a weekly decline of about 16%, with shares briefly reaching roughly $329. On November 6, Super Micro Computer reported quarterly revenue of $19.95 billion, up nearly 298% year over year. The results boosted confidence in enterprise AI server demand and helped Dell rebound toward and above $350.

AI servers are becoming a major growth driver for Dell. AI infrastructure contributes a significant share of segment operating profit, and the company has raised its AI server revenue outlook. Dell recently partnered with CrowdStrike on security for Dell AI Factory and joined NVIDIA and Honeywell to expand industrial AI offerings. New AI PCs and workstations could also help offset pressure on traditional PC sales. However, memory costs and weaker PC shipments may continue to weigh on margins.

Dell is expected to report quarterly results on November 24, 2026. Investors will be watching whether AI server orders and revenue continue to grow, and whether free cash flow keeps pace with earnings. Dell paid a quarterly dividend of $0.63 per share on October 30. Memory procurement and working capital, AI business margins, and PC demand remain key factors to monitor. This article is for informational purposes only and is not investment advice.