Dell Technologies Revenue Forecast Suggests Delay in AI Boost

Dell Technologies reaffirms future revenue growth expectations, disappointing some investors anticipating a larger boost from AI, leading to a 4% drop in shares. The company also anticipates 8% or higher growth in adjusted earnings per share, while planning a $5 billion stock repurchase program. Dell’s conservative revenue forecast hints at slower generative AI benefits, despite earlier optimism. Analysts suggest AI’s strengthening role could warrant higher projections. Amid a PC market slowdown, Dell seeks growth in AI and plans to raise quarterly dividends by at least 10% annually until 2028. Despite layoffs and cost-cutting, Dell’s stock surged 65% in 2023.