Stock Market Update

[BRIEFING.COM] The major averages remain little changed from previous values as this morning's action unfolds in a relatively uneventful manner. 

Dell (DELL 131.65, +5.73, +4.55%) is trading higher after posting Q3 (Oct) results that delivered its largest EPS beat in three quarters. While revenue rose 10.8% year-over-year to $27.01 billion, it came in slightly below expectations. What overshadowed the modest top-line miss, however, was Dell's huge Q4 (Jan) EPS and revenue guidance, with revenue projected at $31-32 billion, far above consensus and the clear driver of today's strong stock reaction.

The company is clearly emerging as a major beneficiary of the second wave of AI build-outs — especially across neoclouds and sovereigns, where demand is broadening beyond the hyperscalers. Still, investors should be mindful that AI cycles can be lumpy, and Dell's storage business remains a soft spot. The PC refresh cycle helps provide balance, but the long-term story remains heavily tied to sustaining AI momentum.