By David Moadel
Publication Date: 2026-05-01 18:41:00
April’s leaderboard includes the three biggest pure plays in artificial intelligence (AI) server hardware, and the gap between first and last is wider than the topline gains suggest. Actions of Dell Technologies (New York Stock Exchange: DELL | DELL Price Prediction) closed the month with a rise of 28%, moving away from Hewlett Packard Company (New York Stock Exchange: HPE) at 21% and super microcomputer (NASDAQ:SMCI) at 20%.
Dell, HPE and SMCI made the same multi-billion dollar profit AI Capital Expenditure (CapEx) wave, however, each business model translated that tailwind into very different April returns. The reasons say a lot about where the smart money is being concentrated right now.
Year-to-date (YTD) results sharpen the picture. Dell stock is up 67% in 2026, HPE is up 20%, and SMCI is down -7% despite April’s rally.
Dell takes April with scale and without legal obstacles
Dell shares rose from $163.64 on March 31 to $208.95 on April 30, their best month of the year. The fourth quarter fiscal 2026 figure from the end of February still sets the…
