Growing demand for artificial intelligence servers should boost shares of Dell Technologies over the long haul, according to Morgan Stanley. Analyst Erik Woodring named Dell a top pick within the IT hardware space, viewing a mounting $2 billion server backlog as a multi-quarter upside driver for shares.
mountain Dell shares have gained about 40% in 2023 A potential S & P 500 inclusion should also benefit Dell and expand the investor base for shares, Woodring added. Other Wall Street firms offered a similarly bullish tone on Dell post-earnings, with Evercore ISI referring to the company as the "AI beneficiary you didn't know about.
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Morgan Stanley downgrades this big AI winner, says stock can fall more than 40%The firm cut its rating to underweight and has a price target of $9.
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