Dell ranks 10th among cheap AI stocks at 13x forward earnings

Dell's inclusion on the list comes as Wall Street's AI trade faced a broad selloff on October 30, with the Philadelphia semiconductor index losing more than 7% and Intel falling 28.6%. Rising benchmark 10-year Treasury yields near 5.3% have prompted a repricing of the cost of capital, making debt more expensive for hyperscalers with large cash needs. Against that backdrop, Dell's combination of a 13 forward P/E and nearly 34% expected revenue growth for 2027 stands out. The company's record $60.9 billion in AI server orders and $95 billion backlog suggest strong demand, while its traditional server and networking revenue jumped 122% as customers modernize data centers. Dell lifted its full-year revenue outlook to $192 billion, reflecting confidence that demand is running ahead of supply.