Dell Technologies vs. Apple: Which PC Stock Has an Edge Now?

Dell Technologies DELL and Apple AAPL are major players in the personal computer (PC) market, offering a wide range of laptops, desktops, and other technology products. While Dell Technologies offers a broad lineup of enterprise and consumer PCs running Windows, Apple is growing its presence in the PC market with its macOS-based MacBooks.Per the Mordor Intelligence report, the PC Market size is valued at $222.64 billion in 2025, and is expected to reach $344.13 billion by 2030, at a CAGR of 9.10% during the forecast period from 2025 to 2030. Both DELL and AAPL are expected to benefit from this rapid growth pace.So, DELL or AAPL — Which of these PC stocks has the greater upside potential? Let’s find out.The Case for Dell StockDell Technologies’ AI prospects remain strong, with AI expanding from major cloud service providers to large-scale enterprise deployments and edge computing with PCs. The growing demand for AI-enabled PCs is also contributing to its Client Solutions Group’s (CSG) revenue growth.In the third quarter of fiscal 2026, CSG revenues were $12.47 billion, representing a 3% year-over-year increase. Commercial revenue grew for the fifth consecutive quarter, up 5% to $10.6 billion, while consumer revenue showed signs of recovery, returning to demand growth for the first time in three years.Dell Technologies’ ongoing PC refresh cycle has been noteworthy. The company’s leadership emphasized that the transition to Windows 11 is not yet finished. About 500 million PCs that can run Windows 11 are still waiting for upgrades. Furthermore, another 500 million PCs in the installed base are more than four years old and cannot run Windows 11. This creates a big opportunity for Dell Technologies to gain market share as businesses and consumers upgrade their systems.The Case for AAPLApple’s Mac business is benefiting from strong demand for the MacBook Air. In the fourth quarter of fiscal 2025, Apple’s Mac sales increased 12.7% year over year to $8.5 billion and accounted for 8.5% of total sales. Nearly half of Mac buyers were first-time users, showcasing Apple’s ability to attract new customers. The company’s focus on innovation has been a key driver of its success in the PC market. Apple updated its Mac portfolio with the launch of the M5 chip-powered 14-inch MacBook Pro. The new MacBook Pro delivers up to 3.5 times faster AI performance than the previous generation, and is up to six times faster compared to the 13-inch MacBook Pro with M1. Apple has been winning market share thanks to strong demand for Mac.Apple’s strategic partnerships with enterprises have bolstered its position in the PC market. Companies like Capital One and Ceska sporitelna have adopted Apple products, including MacBook Airs, to enhance productivity and innovation within their organizations.Price Performance and Valuation of DELL and AAPLIn the trailing six-month period, DELL and AAPL shares have rallied 14.3% and 40.2%, respectively. The outperformance of AAPL can be attributed to the company’s strong demand for Mac.Despite DELL’s expanding portfolio, it is facing a challenging macroeconomic environment, along with stiff competition in the PC market. Dell Technologies also faces challenges from weaker demand for traditional servers and storage in North America, slower federal spending, and declining consumer PC revenue.DELL and AAPL Stock PerformanceImage Source: Zacks Investment ResearchValuation-wise, DELL shares are cheap, as suggested by a Value Score of A. Apple shares are currently overvalued, as suggested by a Value Score of F.In terms of forward 12-month Price/Earnings, DELL’s shares are trading at 0.71X, lower than AAPL’s 8.98X.DELL and AAPL ValuationImage Source: Zacks Investment ResearchHow Do Earnings Estimates Compare for DELL & AAPL?The Zacks Consensus Estimate for DELL’s fiscal 2026 earnings is pegged at $9.89 per share, which increased 3.6% over the past 30 days. This indicates a 21.50% increase year over year.Dell Technologies Inc. Price and Consensus Dell Technologies Inc. price-consensus-chart | Dell Technologies Inc. QuoteHowever, Zacks’ Consensus Estimate for AAPL’s fiscal 2026 earnings is pegged at $8.12 per share, which increased by a couple of pennies over the past 30 days. This indicates an 8.85% increase year over year.Apple Inc. Price and Consensus Apple Inc. price-consensus-chart | Apple Inc. QuoteDELL’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing it once, with an average surprise of 0.23%. Apple’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 5.42%. AAPL’s average surprise is higher than that of DELL.ConclusionWhile both companies are poised to benefit from the PC market’s growth, Apple’s strong Mac demand, innovative M5 chip lineup, and enterprise adoption give it a clear edge in growth and market momentum over DELL.Dell Technologies is facing declining consumer PC revenue, which remains a headwind. Supply-chain costs and competitive pressures in the AI market are also impacting profitability. Both Apple and Dell Technologies carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They includeStock #1: A Disruptive Force with Notable Growth and ResilienceStock #2: Bullish Signs Signaling to Buy the DipStock #3: One of the Most Compelling Investments in the MarketStock #4: Leader In a Red-Hot Industry Poised for GrowthStock #5: Modern Omni-Channel Platform Coiled to SpringMost of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.Download Atomic Opportunity: Nuclear Energy's Comeback free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Apple Inc. (AAPL): Free Stock Analysis Report Dell Technologies Inc. (DELL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks