SMCI vs DELL: AI Stock Comparison

Super Micro Computer, Inc. vs Dell Technologies Inc.: AI exposure, key metrics, next earnings dates, upcoming catalysts and risks — every number linked to its source.

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$SMCI scores higher on AI exposure (5/5 vs 3/5) under our published rubric. The score measures how directly each business is tied to AI, not which stock to buy.
⏱ Next catalyst: $SMCI has the earlier next catalyst (Nov 15, 2026).
$SMCI 🏆
Super Micro Computer, Inc.
Rack-scale AI server systems.
$DELL
Dell Technologies Inc.
PCs and servers, with a fast-growing AI server line.
AI exposure score⚡⚡⚡⚡⚡ 5/5⚡⚡⚡⚡⚡ 3/5
Shares outstanding657.0M
as of 2026-07-31 · 10-K cover page · SEC filing
Not shown (multiple share classes or no recent cover-page figure)
CategoryAI servers & hardwareAI servers & hardware
Key metrics
Revenue (latest fiscal year) $39.06B
10-K period ended 2026-06-30; +78% y/y · SEC filing
Gross margin 10.8%
Gross profit / revenue, same fiscal year · SEC filing
Operating income $2.77B
Same fiscal year; 7% operating margin · SEC filing
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
Next earningsNot yet announced / not on our calendar
Nov 24, 2026 expected
Dell Technologies Inc. quarterly earnings · source
Next catalyst
Nov 15, 2026 – Nov 20, 2026
SC26 Supercomputing Conference · source
Nov 24, 2026 expected
Dell Technologies Inc. quarterly earnings · source
Upcoming catalysts
Nov 15, 2026 – Nov 20, 2026
SC26 Supercomputing Conference · source
Nov 24, 2026 expected
Dell Technologies Inc. quarterly earnings · source
Most recent reported
Nov 3, 2026
Super Micro Computer, Inc. reports quarterly results · source
AI server maker; read on GPU rack shipments and margins.
Not yet announced / not on our calendar
Key risks
  • “Our sales are concentrated in a few large customers, and if we lose or experience a significant reduction in sales to any key customer, or any key customer experiences a significant decline…” — 10-K risk factor (filed 2026-08-31) · source
  • “We are subject to complex laws, rules, regulations, and political and other actions, including restrictions on the export of our products, which may adversely impact our business.” — 10-K risk factor (filed 2026-08-31) · source
  • “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
AI angle

Supermicro builds GPU servers and liquid-cooled racks for AI clouds and enterprises. Revenue swings with GPU supply and a few large customer orders; margins are thin for the sector.

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.

Full analysis: $SMCI →Full analysis: $DELL →

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