DELL vs HPE: AI Stock Comparison

Dell Technologies Inc. vs Hewlett Packard Enterprise Company: AI exposure, key metrics, next earnings dates, upcoming catalysts and risks — every number linked to its source.

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Tie: both score 3/5 on AI exposure under our rubric; compare the catalysts and risks below. The score measures how directly each business is tied to AI, not which stock to buy.
⏱ Next catalyst: $HPE has the earlier next catalyst (Nov 15, 2026).
$DELL
Dell Technologies Inc.
PCs and servers, with a fast-growing AI server line.
$HPE
Hewlett Packard Enterprise Company
Servers, networking (Juniper) and hybrid cloud.
AI exposure score⚡⚡⚡⚡⚡ 3/5⚡⚡⚡⚡⚡ 3/5
Shares outstandingNot shown (multiple share classes or no recent cover-page figure)1.33B
as of 2026-08-27 · 10-Q cover page · SEC filing
CategoryAI servers & hardwareAI servers & hardware
Key metrics
Revenue (latest quarter) $46.97B
10-Q period ended 2026-07-31; +58% y/y · SEC filing
Gross margin 20.9%
Gross profit / revenue, same quarter · SEC filing
Operating income $5.38B
Same quarter; 11% operating margin · SEC filing
Revenue (latest quarter) $12.21B
10-Q period ended 2026-07-31; +34% y/y · SEC filing
Operating income $1.39B
Same quarter; 11% operating margin · SEC filing
Net income $1.54B
Same quarter · SEC filing
Next earnings
Nov 24, 2026 expected
Dell Technologies Inc. quarterly earnings · source
Nov 23, 2026 confirmed
Hewlett Packard Enterprise Company quarterly earnings · source
Next catalyst
Nov 24, 2026 expected
Dell Technologies Inc. quarterly earnings · source
Nov 15, 2026 – Nov 20, 2026
SC26 Supercomputing Conference · source
Upcoming catalysts
Nov 24, 2026 expected
Dell Technologies Inc. quarterly earnings · source
Nov 15, 2026 – Nov 20, 2026
SC26 Supercomputing Conference · source
Nov 23, 2026 confirmed
Hewlett Packard Enterprise Company quarterly earnings · source
Most recent reportedNot yet announced / not on our calendarNot yet announced / not on our calendar
Key risks
  • “The nature of the demand for AI solutions may have adverse effects on our operating performance.” — 10-K risk factor (filed 2026-03-16) · source
  • “Competitive pressures may adversely affect our industry unit share position, revenue, and profitability.” — 10-K risk factor (filed 2026-03-16) · source
  • “Issues in the development and use of artificial intelligence may result in reputational harm, liability, or impact to our results of operations.” — 10-K risk factor (filed 2025-12-18) · source
  • “System security risks, data protection incidents, cyberattacks and systems integration issues could disrupt our internal operations or IT services provided to customers, and any such…” — 10-K risk factor (filed 2025-12-18) · source
AI angle

Dell sells AI-optimized servers to neoclouds, sovereigns and enterprises alongside PCs and storage. Its 10-K notes AI demand patterns can hurt operating performance even as they lift revenue.

HPE sells AI systems and supercomputers plus networking after acquiring Juniper. AI server backlog and margin on those systems are what investors watch.

Full analysis: $DELL →Full analysis: $HPE →

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Deep dives: DELL next earnings & catalysts · HPE next earnings & catalysts · AI earnings this week