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Dell Technologies (DELL) issued a bullish long-term outlook at its 2025 Securities Analyst Meeting, sharply raising its growth targets and underscoring how accelerating AI adoption is transforming its business. The new framework reflects greater confidence in DELL’s infrastructure and storage franchises, as well as its ability to capitalize on surging AI-driven compute demand.

• DELL raised its long-term annual revenue growth target to +7-9% (from +3-4%) and lifted its Non-GAAP EPS growth target to +15% (from 8%+).
• Management reaffirmed Q3 and FY26 guidance, reinforcing credibility and consistent execution.
• DELL expects AI-related global data center CapEx to hit $400 bln in 2025, doubling from prior forecasts, while the 2027 AI hardware and services TAM has jumped to $310 bln from $124 bln two years ago.
• Unstructured data growth of 55% annually (now 80% of all new data) is fueling strong demand for DELL’s AI-optimized storage and infrastructure solutions.
• DELL anticipates $6.7 trillion in global data center investment, with architectural shifts toward high-density, power-efficient clusters that align with its full-stack infrastructure approach.

Briefing.com Analyst Insight:

DELL’s upgraded long-term model positions it squarely at the center of the AI infrastructure boom. The company’s decision to double its growth targets is striking, reflecting both secular tailwinds in compute and storage and its confidence in sustaining operational leverage. The reaffirmation of near-term guidance adds credibility to this bullish narrative, suggesting underlying momentum is already materializing. With a massive and expanding TAM in AI hardware and services, DELL’s end-to-end infrastructure strategy and leadership in enterprise storage give it a compelling runway for durable earnings growth, making it one of the more assertive and well-positioned large-cap tech stories heading into 2026.