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 2026-09-24.
Applied Materials, Inc. · Technology
$474.38
-3.5% upside to fair value
Med Conviction
Grade C
High Quality
VS
Dell Technologies Inc. · Technology
$569.00
-32.5% upside to fair value
Low Conviction
Grade C
QuantHub Verdict
AMAT has more upside to fair value
(-3.5%).
These are model outputs — not personalized investment advice.
See all research →
Valuation & Fundamentals
| Metric |
AMAT |
DELL |
| Current Price |
$474.38 |
$569.00 |
| Fair Value Estimate |
$457.95 |
$383.93 |
| Upside to Fair Value |
-3.5%
|
-32.5%
|
| Market Cap |
$376.6B |
$378.0B |
| Forward P/E |
—
|
—
|
| EV / EBITDA |
33.1x
|
21.8x
|
| Price / Sales |
12.2x
|
2.5x
|
| Price / FCF |
67.0x
|
42.9x
|
| Revenue Growth YoY |
+24.8%
|
+57.7%
|
| Gross Margin |
49.4%
|
19.8%
|
| Operating Margin |
30.5%
|
9.6%
|
| Return on Equity |
40.4%
|
-574.6%
|
| Dividend Yield |
0.42% |
0.41% |
| FCF Yield |
1.49%
|
2.33%
|
| Analyst Consensus |
Strong Buy
|
Buy
|
Investment Thesis
Applied Materials is the largest supplier of wafer fabrication equipment, providing deposition, etch, ion implantation, and process-control tools alongside a growing Applied Global Services aftermarket business to semiconductor manufacturers worldwide. The business quality is high: TTM gross margin of 49.4%, TTM operating margin of 30.5%, TTM net margin of 30.1%, and ROE of 40.4% reflect a durabl…
Dell Technologies is a $378 billion market-cap computer hardware vendor spanning Infrastructure Solutions Group (servers, storage, networking), Client Solutions Group (PCs, displays, peripherals), and a VMware-related software franchise, led by founder-CEO Michael Dell. The business is fundamentally low-quality on the numbers: TTM gross margin is 19.8%, operating margin 9.6%, and net margin 7.5%,…
Accumulation Zones
| Metric |
AMAT |
DELL |
| Zone Low |
$343.46 |
$287.95 |
| Zone High |
$389.26 |
$326.34 |
| In Buy Zone? |
No
|
No
|