2 Tech Stocks in Focus After Earnings

DELL hit a fresh record highs today

Deputy Editor
Mar 1, 2024 at 10:59 AM
facebook X logo linkedin


Tech firms Dell Technologies Inc (NYSE:DELL) and Hewlett Packard Enterprise Co (NYSE:HPE) are both in focus following their respective earnings reports, though one is faring much better than the other today. 

Dell Technologies stock hit record highs after the use of artificial intelligence (AI) boosted the company's annual forecast. The computer maker also topped fourth-quarter earnings and revenue estimates, with Morgan Stanley adding DELL to its "top picks" list while also raising its price target to $128 from $100, while no fewer than nine other analysts lifted their price objectives as well.

At last glance, DELL was up 26.5% at $119.83, earlier as high as $130.80. Shares are on track for their sixth daily win in seven, as well as their biggest single-day percentage jump ever. The security is up almost 200% in the last 12 months, with a 56.2% gain for 2024.

Options traders are blasting DELL today, with 117,000 calls and 54,000 puts exchanged so far -- already 27 times its average daily options volume. Expiring today, the weekly 3/1 120-strike call is the most active contract, with new positions being opened there. 

Hewlett Packard reported mixed fiscal first-quarter results, with lower-than-expected revenue, and a disappointing second-quarter forecast. No fewer than five brokerages slashed their price targets after the event, with the lowest from Susquehanna to $14 from $16. HPE has erased its early morning losses, however, now up 1.8% at $15.51. 

Hewlett Packard stock is seeing plenty of activity in the options pits as well, with traders leaning quite bullish. So far, 34,000 calls and 36,69 puts have crossed the tape, which is 16 times HPE's average daily options volume. The June 17 call is the most active, where new positions are being opened. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI