AMAT vs DELL: Which Is the Better Buy?
Side-by-side comparison of Applied Materials, Inc. and Dell Technologies Inc. — fair value, conviction, valuation metrics, and QuantHub research signals.
Updated 2026-05-20.
Applied Materials, Inc. · Technology
$406.91
-12.0% upside to fair value
Grade B-
High Quality
VS
Dell Technologies Inc. · Technology
$196.55
+45.0% upside to fair value
Grade B
QuantHub Verdict
DELL has more upside to fair value
(+45.0%).
DELL trades at a lower forward P/E
(21.6x).
These are model outputs — not personalized investment advice.
See all research →
Valuation & Fundamentals
| Metric |
AMAT |
DELL |
| Current Price |
$406.91 |
$196.55 |
| Fair Value Estimate |
$358.00 |
$285.00 |
| Upside to Fair Value |
-12.0%
|
+45.0%
|
| Market Cap |
$322.9B |
$132.7B |
| Forward P/E |
30.3x
|
21.6x
|
| EV / EBITDA |
30.2x
|
16.7x
|
| Price / Sales |
10.2x
|
1.2x
|
| Price / FCF |
51.6x
|
15.5x
|
| Revenue Growth YoY |
+11.0%
|
+23.6%
|
| Gross Margin |
49.9%
|
20.1%
|
| Operating Margin |
31.9%
|
7.2%
|
| Return on Equity |
47.0%
|
-218.2%
|
| Dividend Yield |
0.45% |
0% |
| FCF Yield |
1.94%
|
6.45%
|
| Analyst Consensus |
Strong Buy
|
Strong Buy
|
Investment Thesis
Applied Materials is the world's leading semiconductor and display equipment company, and the May 14 Q2 fiscal 2026 print materially strengthened the operating story. Revenue grew 11 percent year over year to a record $7.91 billion, non-GAAP earnings per share of $2.86 beat consensus of $2.68, and management guided Q3 to a record $8.95 billion in revenue with non-GAAP earnings per share of $3.36 …
Dell Technologies Inc. is a leading global technology company specializing in computer hardware, servers, storage, and IT infrastructure solutions. Founded and led by Michael Dell, the company has a strong legacy in direct-to-consumer PC sales and has expanded into enterprise IT services through strategic acquisitions such as EMC. Dell's business quality is medium due to its competitive position …
Accumulation Zones
| Metric |
AMAT |
DELL |
| Zone Low |
$268.50 |
$213.75 |
| Zone High |
$304.30 |
$242.25 |
| In Buy Zone? |
No
|
Yes
|