Dell Technologies Inc.’s AI Advancements Under Michael Dell
Jim Cramer, the esteemed host of CNBC’s “Mad Money,” recently bestowed praise upon Michael Dell, the visionary CEO of Dell Technologies, Inc. (NYSE: DELL), for his pivotal role in propelling artificial intelligence innovations within the company, particularly in the wake of its stellar fourth-quarter performance.
Endorsement from Jim Cramer
What Happened: Cramer, taking to the modern-day town square of X, formerly known as Twitter, expressed his admiration for Dell’s leadership in AI. He shared a 2021 tweet by Michael Dell, wherein the CEO reflected on the astounding growth trajectory of the company.
“This is the man who is taking AI to the next level!” exclaimed Cramer, lauding Dell’s AI prowess.
Market Performance and Strategic Vision
Why It Matters: Dell’s recent fourth-quarter performance has been the talk of the town. The company not only exceeded market expectations with quarterly earnings of $2.20 per share, a notable 27.17% above the analyst consensus of $1.73, but also reported total sales amounting to $22.3 billion, surpassing the estimated $22.16 billion. Dell showcased a soaring demand for its AI servers, leading to servers and networking revenue hitting $4.9 billion. The surge in revenue was predominantly driven by the remarkable growth in AI-optimized servers.
Impressive Stock Upward Trajectory
Just a day post the Q4 results, Dell’s stock continued its upward momentum, with Cramer’s accolades serving as a tailwind for investor optimism. The company’s collaboration with Subaru Corporation to bolster driver safety through AI integration and high-performance storage solutions has also been a pivotal factor in its recent success.
Dell’s Stock Performance
Price Action: Dell’s shares closed at $124.59, marking a substantial 31.62% surge on Friday, as reported by Benzinga Pro.
End Note and Further Exploration
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