DELL Jumps 12% After Record Revenue Report

May 27, 2022

Dell Technologies Inc. jumped 12% on Friday, after reporting first quarter fiscal year 2023 revenue of $26.1 billion, a 16% jump from last quarter. 

The $26.1 billion reporting for its fiscal year, which ended on April 29, was $1.1 billion more than Wall Street estimates. The stock opened Friday at $51.79, the highest it's been in over a month. 

Dell showed strong sales across the board, but particularly in their business PC department, which many experts predicted would struggle amid global supply chain issues and lower demand for PCs.  

DELL is held in 143 ETFs for a combined total of 14.4 million shares. 

The top five ETFs with the most DELL exposure are the Pacer U.S. Cash Cows 100 ETF (COWZ) (1.79%); Affinity World Leaders Equity ETF (WLDR) (1.38%); First Trust Technology AlphaDEX Fund (FXL) (1.31%); First Trust U.S. Equity Opportunities ETF (FPX) (1.08%); and IQ U.S. Large Cap R&D Leaders ETF (LRND) (1.08%). 

COWZ also holds the top spot in terms of number of shares held overall (1.81 million). Vanguard funds hold the next three spots: the Vanguard Total Stock Market ETF (VTI) (1.79 million); Vanguard Value ETF (VTV) (1.57 million); Vanguard Information Technology ETF (VGT) (1.22 million); followed by the iShares MSCI USA Value Factor ETF (VLUE) (655.84 thousand). 

A variety of ETF strategies are invested in DELL. Vanilla ETFs (33) top the list, but multifactor ETFs (25), active management ETFs (22) and ESG ETFs (21) all have strong positions. Fundamental ETFs round out the top five (13). 

Like most technology stocks, DELL's stock price has fluctuated greatly in the last few months. It hit its current 52-week high in January 2022 at $61.54, but dropped as low as $38.58 as recently as mid-May. 

DELL stock took a particular tumble in late February, when, in sharp contrast to Friday's news. The company reported quarterly earnings lower than Wall Street estimates.  

Compared with its peers, though, DELL hasn't experienced the biggest highs or lows. Shares are down 12% for the year, but as recently as last week, Apple Inc. (AAPL), which is held by 376 ETFs, was down more than 20% since the beginning of April. 

But with recurring revenue for the first quarter of approximately $5.3 billion (up 15%) and a first-quarter non-GAAP operating income of $2.1 billion (up 21%), the company outperformed expectations by almost every metric, clearly leaving many investors optimistic about 2022 and beyond. 

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