Nvidia Corp (NASDAQ: NVDA) on Wednesday went beyond expectations for Q4 incomes and assisted Q1 earnings to $78 billion, blowing past the $72 billion quote.
Now the spotlight moves to the business that really puts those GPUs inside servers and ships them to business.
Dell Technologies Inc (NYSE: DELL) reports financial Q4 after the bell today with a record $18.4 billion AI server stockpile.
Wall Street anticipates $31.7 billion in earnings and $3.52 in changed EPS.
The call is at 3:30 p.m. CST.
Polymarket offers Dell a 92% opportunity of beating the $3.52 EPS agreement.
The genuine concern isn’t whether Dell clears the bar. It’s what Michael Dell and COO Jeff Clarke state about what follows.
The Reference Market
On Kalshi, traders have actually put $56,000 in volume banking on which particular words Dell’s group will state this afternoon.
” EPS Development” leads at 86%. “Nvidia” is at 77%, down 3 points heading into the print, which recommends some traders believe Dell might attempt to minimize its GPU reliance and lean into its own IP story.
That stress matters due to the fact that Morgan Stanley’s Erik Woodring has an Underweight ranking and a $110 target on the stock, cautioning that increasing memory expenses will press margins even in a strong need environment.
” AI Factory” sits at 69%.
This is Nvidia’s favored framing for the information center buildout, and Dell embraced it on current calls.
” PowerEdge/ Power Edge” is at 63%. This is Dell’s flagship server brand name.
” Dividend (3+ times)” is at 62%. Dell returned $1.6 billion to investors last quarter. Numerous discusses would signify Dell wishes to advise the marketplace this is a capital return story, not a development bet.
” New Item” is at 58%. Dell revealed the PowerEdge XR9700 the other day, a rugged liquid-cooled server created for edge AI and telecom work.
The Long Shots
” Windows 10″ is at 27%. A Windows 10 discuss ties to the PC refresh cycle Dell’s Customer Solutions Group frantically requires after customer earnings fell 7% last quarter.
” China” is at simply 14%. Dell does not have a China story the method Nvidia does on the AI server side, however it does have substantial customer and industrial PC direct exposure in the area.
If China shows up, it’s most likely about retail need or supply chain than export controls.
” Zoho” complete the bottom at 10%.
Zoho is a substantial Indian business software application business that partnered with Dell in 2015 to run its AI designs on Dell AI Factory facilities with Nvidia GPUs.
A namedrop would signify Dell is pitching particular business consumer wins, however traders aren’t anticipating it.
Why This Matters
The Street is divided. Evercore ISI included Dell to its Tactical Outperform list this month. Morgan Stanley cut the target to $110 Underweight. Barclays updated to Obese at $148.
The stock is around $123, down over 4% in 2026, trading at a P/E of 15.52 versus a market average of 35.22.
Dell requires to transform that $18.4 billion stockpile into delivered earnings without compressing margins. The words they pick today will inform traders whether that’s taking place.
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