© Reuters. Why Dell has more room to run
An improving economy usually causes hardware stocks to outperform. This is especially true this year as IT spending is expected to increase. This trend should help propel Dell Technologies (NYSE 🙂 to new heights. As the economy improves, many companies feel more comfortable increasing their spending. Hardware stocks in particular have risen since November in anticipation of increased IT spending. But the best is yet to come.
Hardware stocks tend to outperform the market during economic recovery. Due to lower spending than usual last year, hardware inventories are expected to skyrocket in 2021 as surveys after surveys of IT executives indicate a massive spike in spending.
In the case of one share in particular, the price targets have risen in recent days due to this trend. Dell Technologies Inc. (DELL) is expected to see massive stock gains this year from its PC solutions and hybrid cloud offerings. But before I start evaluating the company, let’s recap the week.
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