Dell Technologies (DELL) will release its third-quarter earnings after the market closes on Tuesday. Revenue is expected to reach $24.68 billion, an 11% increase compared to the same period last year. Projected net income stands at $1.02 billion, or $1.42 per share, surpassing last year’s $1 billion, or $1.36 per share.

Dell’s stock has risen nearly 90% since the start of the year, closing at $144.21 on Friday. However, analysts tracked by Visible Alpha project a target price of $145, implying less than 1% potential upside. Of the 10 analysts covering Dell, eight recommend a “buy,” while two suggest a “hold.”

Morgan Stanley forecasts moderate results for the third quarter but sees potential growth in 2025 driven by increased sales of artificial intelligence (AI) servers. Dell produces servers utilizing Nvidia (NVDA) chips, a detail highlighted in Nvidia’s recent earnings report.

Meanwhile, current quarter results may be constrained by weak trends in the PC market and slower growth in AI server sales. Nevertheless, Morgan Stanley maintains an “overweight” rating and a target price of $154.