Table of Contents :
• Stock Rating & Target Price
• Investment Thesis
• Fundamental Models Used
• Company Description
• Corporate Timeline
• Key Metrics (KPI ) and Recently Reported Earnings Review
• Business Highlights, Strategic Announcements & Outlook
• Quarter-over-Quarter (Q-o-Q) and Year-over-Year (Y-o-Y) Growth Analysis
• Key Catalysts Driving Growth
• Historical Financial Statement Analysis & CAGR Trends
• Quarterly Key Financial Ratios and Performance Metrics
• Annual Financial Performance Analysis: Horizontal and Vertical Financial Analysis, Trends
• Financial Forecasts
• Annual Forecasts: Income Statement
• Annual Forecasts: Cash Flow Statements
• Net Debt Levels
• A Closer Look at DCF: Our Assumptions and Methodology
• Terminal Value Calculation
• Target Price Analysis
• Valuation Multiples
• Supplementary Valuation Analysis: Multiples Approach
• Scenario/Sensitivity Analysis – Base Case , Bull Case ,Bear Case
• Holistic Peer Review & Trading Comps: Financial Data, Operational Metrics, and Valuation Multiples
• Implied Price Per Share
• Ownership Activity/ Insider Trades
• Ownership Summary
• An analysis of ESG Risk Rating
• Key Professionals
• Key Board Members
• Key Risks Considerations
• Analyst Ratings
• Analyst Industry Views
• Disclosures
Dell: The AI Trade Across Core Segments! Can Margins follow as Dell strengthens its AI footprint
Dell's second-quarter performance underscores its strategic focus on AI infrastructure, evidenced by the impressive 80% year-over-year growth in server and networking revenue, largely driven by a surge in AI server sales. This shift has bolstered the Infrastructure Solutions Group (ISG), which reported 38% growth, reaching $11.65 billion, outpacing expectations. With a $3.8 billion AI server backlog and a robust pipeline, Dell is well-positioned to capitalize on the growing AI infrastructure demand. However, challenges remain in core segments, including a 5% dip in storage and a significant 22% decline in consumer PC sales, highlighting margin pressures in traditional business lines. Despite these headwinds, Dell’s confidence is evident in its upward revision of full-year guidance and continued capital returns. Our rating is based on the company’s ability to scale its AI offerings and expand margins as it captures share in this high-growth segment. As Dell navigates both AI-driven opportunities and legacy challenges, its disciplined approach to capital allocation and execution supports our revised target price of ...... The question remains: Can margins follow as Dell strengthens its AI footprint?
