Don’t Miss Out: Jim Cramer’s 10 Key Stocks to Watch

5. Dell Technologies Inc. (NYSE:DELL)

Number of Hedge Fund Investors: 88

Jim Cramer noted that in the server market, Mizuho Securities has begun coverage of Dell Technologies Inc. (NYSE:DELL), giving it an “outperform” rating.

“Also in the server market, Mizuho Securities started coverage of Dell with an outperform.”

Dell Technologies Inc. (NYSE:DELL) is supported by strong earnings growth, an expansion in cloud infrastructure, and high demand for its PCs and enterprise solutions. In its latest quarterly report, Dell Technologies Inc. (NYSE:DELL) announced revenues of $22.9 billion for Q2 2023, reflecting a 7% year-over-year increase driven by solid demand for PCs and servers, showcasing resilience in its core markets.

Dell Technologies Inc. (NYSE:DELL) is significantly increasing its focus on cloud solutions by forming partnerships with major cloud providers and promoting its own Dell Technologies Cloud, positioning itself well in the expanding cloud infrastructure market. Additionally, demand for Dell Technologies Inc. (NYSE:DELL)’s enterprise solutions, including storage and networking products, continues to grow as businesses invest in IT modernization, further enhancing revenue prospects.

Dell Technologies Inc. (NYSE:DELL)’s strategic initiatives in AI and data analytics are improving its product offerings and competitiveness. Recent announcements about expanding cloud services and launching new products to enhance customer experience highlight Dell Technologies Inc. (NYSE:DELL)’s commitment to future growth, supporting a strong positive outlook for its potential.

Carillon Scout Mid Cap Fund stated the following regarding Dell Technologies Inc. (NYSE:DELL) in its Q2 2024 investor letter:

“Dell Technologies Inc. (NYSE:DELL) was a top contributor despite reporting disappointing first-quarter earnings results, because investors looked through the near-term disappointment and expected strong growth from AI-related servers and personal computers. We expect Dell to participate in the growth of artificial intelligence hardware, especially as enterprises invest more aggressively. We like the company’s depth and breadth of products and services, as well as its focus on keeping costs low.”