Morgan Stanley names this tech stock a top pick, says AI server demand could boost it by nearly 25%

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This tech hardware stock is emerging as an early generative AI winner, according to Morgan Stanley.

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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