This Artificial Intelligence (AI) Stock Has Tripled in a Year, and You May Regret Not Buying It Hand Over Fist Before It Soars Higher
The proliferation of artificial intelligence (AI) has given shares of many companies a big lift in the past year or so, and Dell Technologies (NYSE: DELL) is one of them. Shares of Dell have more than tripled in the past year as investors have been buying the stock hand over fist in the belief that it could benefit big time from the growing adoption of AI.
That's not surprising, as Dell can take advantage of two lucrative AI-related growth opportunities -- servers and personal computers (PCs). And recent developments indicate that the company is taking steps to capitalize on both these markets. Let's take a closer look at the reasons why Dell's red-hot stock market rally could continue thanks to AI.
When Dell reported its fiscal 2024 fourth-quarter results (for the three months ended Feb. 2), management pointed out that it is witnessing robust demand for its AI-optimized servers. More specifically, orders for Dell's AI-focused servers were up 40% quarter over quarter. As a result, Dell's order backlog of AI servers almost doubled from the previous quarter to $2.9 billion.
Source Fool.com
