Dell Technologies Inc. (DELL) Stock Price & How to Invest

Dell Technologies sells computing hardware to enterprises and consumers. The business has two main segments. Infrastructure Solutions Group (ISG) sells servers (including AI-optimized PowerEdge servers), storage (PowerStore, PowerMax), and data center networking; ISG has become a major AI infrastructure beneficiary because Dell is one of the largest assemblers of NVIDIA GPU-based AI servers for hyperscaler and enterprise customers. Client Solutions Group (CSG) sells laptops, desktops, monitors, and peripherals to consumer and commercial markets.

Dell also owns 81% of VMware Carbon Black after the VMware spin-off in 2021 (sold remaining shares to Broadcom). Founded in 1984 by Michael Dell as a PC company, headquartered in Round Rock, Texas. Michael Dell is the chairman, CEO, and largest shareholder.

AI server margins are structurally thinner than other Dell business; the headline revenue growth doesn't translate to proportional earnings growth. PC market cyclicality and competition from Apple and Lenovo.

23 analysts publish price targets on DELL, averaging $510.26 against a $425.00 price as of September 2026, or +20.1%. The published targets run from $360.00 to $700.00, a moderate spread, and the ratings split 19 buy, 8 hold, 0 sell. Over the last six months there have been 11 raises and 0 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full DELL forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Dell Technologies Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. AI server assembly as the headline growth driver. Dell is one of the largest assemblers of NVIDIA GPU-based AI servers in the world, with backlog measured in tens of billions. The most optimistic published target, $700.00, assumes this works close to its best case.

The case against. AI server margins are structurally thinner than other Dell business; the headline revenue growth doesn't translate to proportional earnings growth. The most pessimistic target, $360.00, is roughly what DELL is worth if this bites instead.

Read the full bull and bear case on DELL, including what would have to change to break either one. Walnut is not an investment adviser.

Yes. Dell Technologies Inc. (DELL) has had 2 share splits in the last 10 years:

• 1806:1000 on December 28, 2018, so every share held became 1.806 shares.
• 1973:1000 on November 2, 2021, so every share held became 1.973 shares.

A split changes the share count and the price per share and leaves the value of a holding unchanged. Someone holding $1,000 of DELL the day before the 1973:1000 split held $1,000 the day after, in more shares at a proportionally lower price. Historical prices from before the date are normally shown split-adjusted, which is why a long-run chart shows no cliff.

Splits matter mainly because they make older price figures confusing to compare by hand, and because a board choosing to split is usually signalling that the price has run up far enough to feel awkward for smaller buyers. Neither is a reason to buy or sell.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Dell Technologies Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$100 billion
• Operating margin: ~7% (thin overall; AI servers thinner)
• Net income (TTM): ~$5 billion
• EPS (TTM): ~$7.00
• P/E (TTM): ~17x
• Price to sales: ~1x
• Dividend yield: ~1.5%
• Free cash flow: ~$5 billion annually
• AI server backlog: Tens of billions, multi-quarter visibility

Dell trades at a modest P/E reflecting the low-margin hardware business model. The premium versus pure hardware peers comes from AI server exposure; the multiple compresses if AI server margins disappoint or if PC end markets weaken.

If you want DELL exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

These are the investment theses DELL naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that sit close to DELL: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get DELL exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (RSP, FDVV, WQTM), which spreads the position across many companies. Or build it into a focused thematic portfolio, so DELL sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where DELL fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Dell (DELL) offers AI-server exposure at a modest valuation, with founder Michael Dell aligned as the largest shareholder, balanced against structurally thin AI-server margins and cyclical PC demand. In a portfolio it behaves as a value-leaning AI-infrastructure and hardware holding (more diversified and steadier than pure-play Supermicro), with a growing dividend, competing with HPE, Supermicro, Lenovo, and NetApp.

Whether DELL is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is DELL a buy or a sell?, and where the stock could go from here in the DELL stock forecast.

For income investors, whether DELL pays a dividend and how the payout looks is covered in does DELL pay a dividend? And to weigh DELL against a peer, read the full side-by-side comparisons: DELL vs AVGO and DELL vs NVDA.