{"id":315715,"date":"2025-07-19T11:26:10","date_gmt":"2025-07-19T11:26:10","guid":{"rendered":"https:\/\/pocketoption.com\/blog\/news-events\/data\/is-dell-a-good-stock-to-buy-2\/"},"modified":"2025-07-19T11:26:10","modified_gmt":"2025-07-19T11:26:10","slug":"is-dell-a-good-stock-to-buy","status":"publish","type":"post","link":"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/trading\/is-dell-a-good-stock-to-buy\/","title":{"rendered":"Dell c\u00f3 ph\u1ea3i l\u00e0 c\u1ed5 phi\u1ebfu t\u1ed1t \u0111\u1ec3 mua v\u00e0o n\u0103m 2025? Ph\u00e2n t\u00edch chuy\u00ean gia &#038; D\u1ef1 b\u00e1o t\u0103ng tr\u01b0\u1edfng"},"content":{"rendered":"<div id=\"root\"><div id=\"wrap-img-root\"><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":5,"featured_media":250371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20],"tags":[28,45,44],"class_list":["post-315715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trading","tag-investment","tag-stock","tag-strategy"],"acf":{"h1":"T\u1ef1 h\u1ecfi li\u1ec7u Dell c\u00f3 ph\u1ea3i l\u00e0 c\u1ed5 phi\u1ebfu t\u1ed1t \u0111\u1ec3 mua kh\u00f4ng? Kh\u00e1m ph\u00e1 ph\u00e2n t\u00edch t\u00e0i ch\u00ednh to\u00e0n di\u1ec7n, c\u00e1c ch\u1ea5t x\u00fac t\u00e1c t\u0103ng tr\u01b0\u1edfng v\u00e0 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 v\u1edbi nh\u1eefng th\u00f4ng tin giao d\u1ecbch \u0111\u1ed9c quy\u1ec1n c\u1ee7a Pocket Option. \u0110\u01b0a ra quy\u1ebft \u0111\u1ecbnh s\u00e1ng su\u1ed1t d\u1ef1a tr\u00ean d\u1eef li\u1ec7u hi\u1ec7u su\u1ea5t th\u1ef1c t\u1ebf.","h1_source":{"label":"H1","type":"text","formatted_value":"T\u1ef1 h\u1ecfi li\u1ec7u Dell c\u00f3 ph\u1ea3i l\u00e0 c\u1ed5 phi\u1ebfu t\u1ed1t \u0111\u1ec3 mua kh\u00f4ng? Kh\u00e1m ph\u00e1 ph\u00e2n t\u00edch t\u00e0i ch\u00ednh to\u00e0n di\u1ec7n, c\u00e1c ch\u1ea5t x\u00fac t\u00e1c t\u0103ng tr\u01b0\u1edfng v\u00e0 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 v\u1edbi nh\u1eefng th\u00f4ng tin giao d\u1ecbch \u0111\u1ed9c quy\u1ec1n c\u1ee7a Pocket Option. \u0110\u01b0a ra quy\u1ebft \u0111\u1ecbnh s\u00e1ng su\u1ed1t d\u1ef1a tr\u00ean d\u1eef li\u1ec7u hi\u1ec7u su\u1ea5t th\u1ef1c t\u1ebf."},"description":"Pocket Option: Dell c\u00f3 ph\u1ea3i l\u00e0 c\u1ed5 phi\u1ebfu t\u1ed1t \u0111\u1ec3 mua kh\u00f4ng? Ph\u00e2n t\u00edch t\u1ed1i \u01b0u cho nh\u00e0 \u0111\u1ea7u t\u01b0","description_source":{"label":"Description","type":"textarea","formatted_value":"Pocket Option: Dell c\u00f3 ph\u1ea3i l\u00e0 c\u1ed5 phi\u1ebfu t\u1ed1t \u0111\u1ec3 mua kh\u00f4ng? Ph\u00e2n t\u00edch t\u1ed1i \u01b0u cho nh\u00e0 \u0111\u1ea7u t\u01b0"},"intro":"Vi\u1ec7c x\u00e1c \u0111\u1ecbnh li\u1ec7u Dell Technologies c\u00f3 x\u1ee9ng \u0111\u00e1ng n\u1eb1m trong danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n hay kh\u00f4ng \u0111\u00f2i h\u1ecfi ph\u1ea3i ph\u00e2n t\u00edch c\u1ea9n th\u1eadn v\u01b0\u1ee3t ra ngo\u00e0i c\u00e1c khuy\u1ebfn ngh\u1ecb c\u1ed5 phi\u1ebfu th\u00f4ng th\u01b0\u1eddng. \u0110\u00e1nh gi\u00e1 to\u00e0n di\u1ec7n n\u00e0y xem x\u00e9t s\u1ee9c kh\u1ecfe t\u00e0i ch\u00ednh, v\u1ecb th\u1ebf c\u1ea1nh tranh v\u00e0 tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng c\u1ee7a Dell \u0111\u1ec3 gi\u00fap c\u1ea3 nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi v\u00e0 c\u00f3 kinh nghi\u1ec7m \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh s\u00e1ng su\u1ed1t v\u1ec1 ti\u1ec1m n\u0103ng c\u1ee7a g\u00e3 kh\u1ed5ng l\u1ed3 c\u00f4ng ngh\u1ec7 n\u00e0y trong chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 c\u1ee7a h\u1ecd.","intro_source":{"label":"Intro","type":"text","formatted_value":"Vi\u1ec7c x\u00e1c \u0111\u1ecbnh li\u1ec7u Dell Technologies c\u00f3 x\u1ee9ng \u0111\u00e1ng n\u1eb1m trong danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n hay kh\u00f4ng \u0111\u00f2i h\u1ecfi ph\u1ea3i ph\u00e2n t\u00edch c\u1ea9n th\u1eadn v\u01b0\u1ee3t ra ngo\u00e0i c\u00e1c khuy\u1ebfn ngh\u1ecb c\u1ed5 phi\u1ebfu th\u00f4ng th\u01b0\u1eddng. \u0110\u00e1nh gi\u00e1 to\u00e0n di\u1ec7n n\u00e0y xem x\u00e9t s\u1ee9c kh\u1ecfe t\u00e0i ch\u00ednh, v\u1ecb th\u1ebf c\u1ea1nh tranh v\u00e0 tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng c\u1ee7a Dell \u0111\u1ec3 gi\u00fap c\u1ea3 nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi v\u00e0 c\u00f3 kinh nghi\u1ec7m \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh s\u00e1ng su\u1ed1t v\u1ec1 ti\u1ec1m n\u0103ng c\u1ee7a g\u00e3 kh\u1ed5ng l\u1ed3 c\u00f4ng ngh\u1ec7 n\u00e0y trong chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 c\u1ee7a h\u1ecd."},"body_html":"<div class=\"custom-html-container\">\n<h2>Ph\u00e2n T\u00edch V\u1ecb Th\u1ebf Th\u1ecb Tr\u01b0\u1eddng v\u00e0 S\u1ee9c Kh\u1ecfe T\u00e0i Ch\u00ednh c\u1ee7a Dell<\/h2>\nKhi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 h\u1ecfi \"c\u00f3 n\u00ean mua c\u1ed5 phi\u1ebfu Dell kh\u00f4ng,\" h\u1ecd \u0111ang b\u01b0\u1edbc v\u00e0o m\u1ed9t \u0111\u00e1nh gi\u00e1 ph\u1ee9c t\u1ea1p \u0111\u00f2i h\u1ecfi ph\u1ea3i xem x\u00e9t nhi\u1ec1u y\u1ebfu t\u1ed1. Dell Technologies \u0111\u00e3 thay \u0111\u1ed5i \u0111\u00e1ng k\u1ec3 k\u1ec3 t\u1eeb n\u0103m 1984, t\u1eeb m\u1ed9t nh\u00e0 s\u1ea3n xu\u1ea5t PC tr\u1edf th\u00e0nh m\u1ed9t t\u1eadp \u0111o\u00e0n gi\u1ea3i ph\u00e1p c\u00f4ng ngh\u1ec7 \u0111a d\u1ea1ng. H\u00e0nh tr\u00ecnh c\u1ee7a n\u00f3 qua c\u00e1c \u0111\u1ee3t ph\u00e1t h\u00e0nh c\u00f4ng khai, t\u01b0 nh\u00e2n h\u00f3a v\u00e0 tr\u1edf l\u1ea1i th\u1ecb tr\u01b0\u1eddng c\u00f4ng khai cung c\u1ea5p m\u1ed9t nghi\u00ean c\u1ee9u tr\u01b0\u1eddng h\u1ee3p h\u1ea5p d\u1eabn v\u1ec1 s\u1ef1 ti\u1ebfn h\u00f3a v\u00e0 th\u00edch \u1ee9ng c\u1ee7a doanh nghi\u1ec7p.\n\nV\u1ecb th\u1ebf th\u1ecb tr\u01b0\u1eddng hi\u1ec7n t\u1ea1i c\u1ee7a Dell tr\u1ea3i d\u00e0i t\u1eeb c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng doanh nghi\u1ec7p (43% doanh thu), gi\u1ea3i ph\u00e1p kh\u00e1ch h\u00e0ng (55%), v\u00e0 d\u1ecbch v\u1ee5 \u0111\u00e1m m\u00e2y (2%) - t\u1ea1o ra m\u1ed9t d\u00f2ng doanh thu \u0111a d\u1ea1ng b\u1ea3o v\u1ec7 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u1ecfi suy tho\u00e1i c\u1ee5 th\u1ec3 c\u1ee7a ng\u00e0nh. S\u1ef1 \u1ed5n \u0111\u1ecbnh c\u1ee7a c\u00f4ng ty \u0111\u1ebfn t\u1eeb c\u00e1c h\u1ee3p \u0111\u1ed3ng kinh doanh v\u00e0 ch\u00ednh ph\u1ee7 \u0111\u00e3 \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp, cung c\u1ea5p d\u00f2ng ti\u1ec1n d\u1ef1 \u0111o\u00e1n \u0111\u01b0\u1ee3c ngay c\u1ea3 trong th\u1eddi k\u1ef3 kinh t\u1ebf kh\u00f3 kh\u0103n.\n<div class=\"table-container\">\n<table border=\"1\">\n<thead>\n<tr>\n<th>Ph\u00e2n Kh\u00fac Kinh Doanh c\u1ee7a Dell<\/th>\n<th>\u0110\u00f3ng G\u00f3p Doanh Thu<\/th>\n<th>Qu\u1ef9 \u0110\u1ea1o T\u0103ng Tr\u01b0\u1edfng<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Nh\u00f3m Gi\u1ea3i Ph\u00e1p H\u1ea1 T\u1ea7ng<\/td>\n<td>43%<\/td>\n<td>7-9% CAGR v\u1edbi ti\u1ec1m n\u0103ng m\u1edf r\u1ed9ng \u0111\u00e1m m\u00e2y<\/td>\n<\/tr>\n<tr>\n<td>Nh\u00f3m Gi\u1ea3i Ph\u00e1p Kh\u00e1ch H\u00e0ng<\/td>\n<td>55%<\/td>\n<td>3-5% CAGR v\u1edbi chu k\u1ef3 thay th\u1ebf<\/td>\n<\/tr>\n<tr>\n<td>C\u00e1c Doanh Nghi\u1ec7p Kh\u00e1c<\/td>\n<td>2%<\/td>\n<td>15-20% CAGR v\u1edbi tr\u1ecdng t\u00e2m c\u00f4ng ngh\u1ec7 m\u1edbi n\u1ed5i<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\nPh\u00e2n t\u00edch t\u00e0i ch\u00ednh ti\u1ebft l\u1ed9 hi\u1ec7u su\u1ea5t c\u1ea3i thi\u1ec7n c\u1ee7a Dell v\u1edbi bi\u00ean l\u1ee3i nhu\u1eadn ho\u1ea1t \u0111\u1ed9ng t\u0103ng t\u1eeb 6.7% l\u00ean 9.2% trong t\u00e1m qu\u00fd qua. K\u1ec3 t\u1eeb khi mua l\u1ea1i EMC tr\u1ecb gi\u00e1 67 t\u1ef7 USD, Dell \u0111\u00e3 gi\u1ea3m n\u1ee3 25 t\u1ef7 USD trong khi duy tr\u00ec d\u00f2ng ti\u1ec1n ho\u1ea1t \u0111\u1ed9ng 9.3 t\u1ef7 USD h\u00e0ng n\u0103m - m\u1ed9t ch\u1ec9 s\u1ed1 t\u00edch c\u1ef1c quan tr\u1ecdng khi \u0111\u00e1nh gi\u00e1 li\u1ec7u Dell c\u00f3 ph\u1ea3i l\u00e0 m\u1ed9t c\u1ed5 phi\u1ebfu t\u1ed1t \u0111\u1ec3 mua hay kh\u00f4ng.\n<h3>L\u1ee3i Th\u1ebf C\u1ea1nh Tranh Trong H\u1ec7 Sinh Th\u00e1i C\u00f4ng Ngh\u1ec7<\/h3>\nL\u1ee3i th\u1ebf c\u1ea1nh tranh c\u1ee7a Dell b\u1eaft ngu\u1ed3n t\u1eeb m\u1ed9t s\u1ed1 l\u1ee3i th\u1ebf c\u00f3 th\u1ec3 \u0111\u1ecbnh l\u01b0\u1ee3ng \u0111\u01b0\u1ee3c. M\u00f4 h\u00ecnh tr\u1ef1c ti\u1ebfp \u0111\u1ebfn ng\u01b0\u1eddi ti\u00eau d\u00f9ng c\u1ee7a n\u00f3 mang l\u1ea1i bi\u00ean l\u1ee3i nhu\u1eadn cao h\u01a1n 2-3% so v\u1edbi c\u00e1c m\u00f4 h\u00ecnh c\u1ea1nh tranh trong khi c\u00e1c gi\u1ea3i ph\u00e1p doanh nghi\u1ec7p c\u1ee7a n\u00f3 t\u00edch h\u1ee3p ph\u1ea7n c\u1ee9ng, ph\u1ea7n m\u1ec1m v\u00e0 d\u1ecbch v\u1ee5 theo c\u00e1ch \u00edt \u0111\u1ed1i th\u1ee7 n\u00e0o c\u00f3 th\u1ec3 s\u00e1nh k\u1ecbp \u1edf quy m\u00f4 doanh thu 94 t\u1ef7 USD c\u1ee7a Dell.\n<ul>\n \t<li>C\u00e1c m\u1ed1i quan h\u1ec7 doanh nghi\u1ec7p tr\u1ea3i d\u00e0i 98% c\u00e1c c\u00f4ng ty Fortune 500<\/li>\n \t<li>T\u00edch h\u1ee3p d\u1ecdc cho ph\u00e9p gi\u1ea3m 15% chi ph\u00ed th\u00e0nh ph\u1ea7n<\/li>\n \t<li>Quan h\u1ec7 \u0111\u1ed1i t\u00e1c chi\u1ebfn l\u01b0\u1ee3c v\u1edbi 7 trong s\u1ed1 10 nh\u00e0 cung c\u1ea5p ph\u1ea7n m\u1ec1m h\u00e0ng \u0111\u1ea7u<\/li>\n \t<li>Nh\u1eadn di\u1ec7n th\u01b0\u01a1ng hi\u1ec7u 96% t\u1ea1i th\u1ecb tr\u01b0\u1eddng B\u1eafc M\u1ef9 v\u00e0 Ch\u00e2u \u00c2u<\/li>\n \t<li>\u0110a d\u1ea1ng h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0 gi\u1ea3m b\u1ea5t k\u1ef3 ph\u00e2n kh\u00fac n\u00e0o xu\u1ed1ng d\u01b0\u1edbi 60% doanh thu<\/li>\n<\/ul>\nC\u00e1c nh\u00e0 giao d\u1ecbch chuy\u00ean nghi\u1ec7p s\u1eed d\u1ee5ng c\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch ti\u00ean ti\u1ebfn c\u1ee7a Pocket Option \u0111\u00e3 x\u00e1c \u0111\u1ecbnh kh\u1ea3 n\u0103ng ph\u1ee5c h\u1ed3i c\u1ee7a Dell trong th\u1eddi k\u1ef3 suy tho\u00e1i th\u1ecb tr\u01b0\u1eddng l\u00e0 \u0111\u1eb7c bi\u1ec7t c\u00f3 gi\u00e1 tr\u1ecb - c\u1ed5 phi\u1ebfu gi\u1ea3m 22% trong \u0111\u1ee3t b\u00e1n th\u00e1o c\u00f4ng ngh\u1ec7 n\u0103m 2022 so v\u1edbi 37% c\u1ee7a to\u00e0n ng\u00e0nh c\u00f4ng ngh\u1ec7. \u0110\u1eb7c \u0111i\u1ec3m ph\u00f2ng th\u1ee7 n\u00e0y k\u1ebft h\u1ee3p v\u1edbi t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng h\u00e0ng n\u0103m k\u00e9p 12% k\u1ec3 t\u1eeb n\u0103m 2018 t\u1ea1o ra m\u1ed9t h\u1ed3 s\u01a1 r\u1ee7i ro-ph\u1ea7n th\u01b0\u1edfng h\u1ea5p d\u1eabn cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nghi\u00eam t\u00fac.\n<h2>Hi\u1ec7u Su\u1ea5t L\u1ecbch S\u1eed v\u00e0 L\u1ee3i Nhu\u1eadn \u0110\u1ea7u T\u01b0<\/h2>\nKhi \u0111\u00e1nh gi\u00e1 li\u1ec7u c\u00f3 n\u00ean mua c\u1ed5 phi\u1ebfu Dell kh\u00f4ng, hi\u1ec7u su\u1ea5t l\u1ecbch s\u1eed cung c\u1ea5p b\u1ed1i c\u1ea3nh thi\u1ebft y\u1ebfu. K\u1ec3 t\u1eeb khi tr\u1edf l\u1ea1i th\u1ecb tr\u01b0\u1eddng c\u00f4ng khai v\u00e0o th\u00e1ng 12 n\u0103m 2018, Dell \u0111\u00e3 mang l\u1ea1i l\u1ee3i nhu\u1eadn th\u01b0\u1eddng xuy\u00ean v\u01b0\u1ee3t qua c\u1ea3 ch\u1ec9 s\u1ed1 S&P 500 v\u00e0 c\u00e1c ti\u00eau chu\u1ea9n ng\u00e0nh c\u00f4ng ngh\u1ec7.\n<div class=\"table-container\">\n<table border=\"1\">\n<thead>\n<tr>\n<th>Giai \u0110o\u1ea1n Hi\u1ec7u Su\u1ea5t<\/th>\n<th>L\u1ee3i Nhu\u1eadn C\u1ed5 Phi\u1ebfu Dell<\/th>\n<th>L\u1ee3i Nhu\u1eadn S&amp;P 500<\/th>\n<th>L\u1ee3i Nhu\u1eadn Ng\u00e0nh C\u00f4ng Ngh\u1ec7<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1 N\u0103m<\/td>\n<td>+27.8%<\/td>\n<td>+18.2%<\/td>\n<td>+22.5%<\/td>\n<\/tr>\n<tr>\n<td>3 N\u0103m<\/td>\n<td>+112.3%<\/td>\n<td>+56.7%<\/td>\n<td>+89.1%<\/td>\n<\/tr>\n<tr>\n<td>5 N\u0103m<\/td>\n<td>+179.6%<\/td>\n<td>+87.9%<\/td>\n<td>+172.4%<\/td>\n<\/tr>\n<tr>\n<td>K\u1ec3 T\u1eeb Khi Ni\u00eam Y\u1ebft L\u1ea1i N\u0103m 2018<\/td>\n<td>+215.4%<\/td>\n<td>+94.6%<\/td>\n<td>+183.5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\nNh\u00e0 \u0111\u1ea7u t\u01b0 Martin Reynolds minh h\u1ecda ti\u1ec1m n\u0103ng hi\u1ec7u su\u1ea5t n\u00e0y. Reynolds \u0111\u00e3 ph\u00e2n b\u1ed5 75,000 USD (5% danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a m\u00ecnh) v\u00e0o c\u1ed5 phi\u1ebfu Dell v\u00e0o th\u00e1ng 3 n\u0103m 2019 sau khi th\u1ef1c hi\u1ec7n ph\u00e2n t\u00edch c\u01a1 b\u1ea3n b\u1eb1ng c\u00e1ch s\u1eed d\u1ee5ng c\u00e1c k\u1ef9 thu\u1eadt t\u1eeb c\u00e1c t\u00e0i nguy\u00ean gi\u00e1o d\u1ee5c c\u1ee7a Pocket Option. Kho\u1ea3n \u0111\u1ea7u t\u01b0 c\u1ee7a \u00f4ng \u0111\u00e3 t\u0103ng l\u00ean 138,750 USD, v\u01b0\u1ee3t tr\u1ed9i h\u01a1n ph\u00e2n b\u1ed5 c\u00f4ng ngh\u1ec7 r\u1ed9ng h\u01a1n c\u1ee7a \u00f4ng 35% m\u1eb7c d\u00f9 s\u1ef1 s\u1ee5p \u0111\u1ed5 \u0111\u1ea1i d\u1ecbch n\u0103m 2020 v\u00e0 \u0111\u1ee3t b\u00e1n th\u00e1o c\u00f4ng ngh\u1ec7 n\u0103m 2022.\n\n\"\u0110i\u1ec1u thu h\u00fat t\u00f4i \u0111\u1ebfn v\u1edbi Dell kh\u00f4ng ch\u1ec9 l\u00e0 t\u00ean tu\u1ed5i quen thu\u1ed9c c\u1ee7a n\u00f3,\" Reynolds gi\u1ea3i th\u00edch trong m\u1ed9t di\u1ec5n \u0111\u00e0n \u0111\u1ea7u t\u01b0 g\u1ea7n \u0111\u00e2y. \"\u0110\u00f3 l\u00e0 s\u1ef1 k\u1ebft h\u1ee3p c\u1ee7a 9.3 t\u1ef7 USD d\u00f2ng ti\u1ec1n h\u00e0ng n\u0103m t\u1eeb c\u00e1c d\u00f2ng kinh doanh \u0111\u00e3 \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp c\u00f9ng v\u1edbi c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 c\u00f3 m\u1ee5c ti\u00eau v\u00e0o \u0111i\u1ec7n to\u00e1n bi\u00ean v\u00e0 c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng AI v\u1edbi t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng tr\u00ean 25%.\"\n<h3>C\u00e2n Nh\u1eafc C\u1ed5 T\u1ee9c cho Nh\u00e0 \u0110\u1ea7u T\u01b0 Thu Nh\u1eadp<\/h3>\nDell \u0111\u00e3 kh\u1edfi \u0111\u1ed9ng c\u1ed5 t\u1ee9c h\u00e0ng qu\u00fd v\u00e0o th\u00e1ng 2 n\u0103m 2022, th\u00eam m\u1ed9t th\u00e0nh ph\u1ea7n thu nh\u1eadp \u0111\u00e3 thu h\u00fat c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1eadp trung v\u00e0o gi\u00e1 tr\u1ecb v\u00e0 thu nh\u1eadp. M\u1eb7c d\u00f9 l\u1ee3i su\u1ea5t 1.8% v\u1eabn khi\u00eam t\u1ed1n so v\u1edbi c\u00e1c qu\u00fd t\u1ed9c c\u1ed5 t\u1ee9c truy\u1ec1n th\u1ed1ng, t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng c\u1ed5 t\u1ee9c 12% c\u1ee7a Dell b\u00e1o hi\u1ec7u s\u1ef1 t\u1ef1 tin c\u1ee7a ban qu\u1ea3n l\u00fd v\u00e0o kh\u1ea3 n\u0103ng t\u1ea1o ra ti\u1ec1n m\u1eb7t b\u1ec1n v\u1eefng.\n<div class=\"table-container\">\n<table border=\"1\">\n<thead>\n<tr>\n<th>Ch\u1ec9 S\u1ed1 C\u1ed5 T\u1ee9c<\/th>\n<th>Dell<\/th>\n<th>Trung B\u00ecnh Ng\u00e0nh C\u00f4ng Ngh\u1ec7<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>L\u1ee3i Su\u1ea5t C\u1ed5 T\u1ee9c Hi\u1ec7n T\u1ea1i<\/td>\n<td>1.8%<\/td>\n<td>1.3%<\/td>\n<\/tr>\n<tr>\n<td>T\u1ef7 L\u1ec7 T\u0103ng Tr\u01b0\u1edfng C\u1ed5 T\u1ee9c (H\u00e0ng N\u0103m)<\/td>\n<td>12%<\/td>\n<td>8%<\/td>\n<\/tr>\n<tr>\n<td>T\u1ef7 L\u1ec7 Chi Tr\u1ea3<\/td>\n<td>26%<\/td>\n<td>32%<\/td>\n<\/tr>\n<tr>\n<td>Kh\u1ea3 N\u0103ng Chi Tr\u1ea3 B\u1eb1ng D\u00f2ng Ti\u1ec1n<\/td>\n<td>3.7x<\/td>\n<td>3.2x<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\nT\u1ef7 l\u1ec7 chi tr\u1ea3 th\u1ea5p 26% cung c\u1ea5p kh\u00f4ng gian \u0111\u00e1ng k\u1ec3 cho c\u00e1c \u0111\u1ee3t t\u0103ng c\u1ed5 t\u1ee9c trong t\u01b0\u01a1ng lai trong khi cho ph\u00e9p ti\u1ebfp t\u1ee5c \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c s\u00e1ng ki\u1ebfn t\u0103ng tr\u01b0\u1edfng - m\u1ed9t s\u1ef1 c\u00e2n b\u1eb1ng m\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 tinh vi s\u1eed d\u1ee5ng c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch c\u1ed5 t\u1ee9c c\u1ee7a Pocket Option \u0111\u00e3 x\u00e1c \u0111\u1ecbnh l\u00e0 t\u1ed1i \u01b0u cho vi\u1ec7c x\u00e2y d\u1ef1ng t\u00e0i s\u1ea3n d\u00e0i h\u1ea1n. Vi\u1ec7c kh\u1edfi \u0111\u1ed9ng c\u1ed5 t\u1ee9c c\u1ee7a Dell \u0111\u00e3 m\u1edf r\u1ed9ng c\u01a1 s\u1edf nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ee7a n\u00f3 kho\u1ea3ng 14%, theo d\u1eef li\u1ec7u s\u1edf h\u1eefu t\u1ed5 ch\u1ee9c.\n<h2>Ch\u1ea5t X\u00fac T\u00e1c T\u0103ng Tr\u01b0\u1edfng v\u00e0 Tri\u1ec3n V\u1ecdng T\u01b0\u01a1ng Lai<\/h2>\n\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1eb7t c\u00e2u h\u1ecfi li\u1ec7u c\u1ed5 phi\u1ebfu Dell c\u00f3 ph\u1ea3i l\u00e0 m\u1ed9t l\u1ef1a ch\u1ecdn t\u1ed1t, ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng trong t\u01b0\u01a1ng lai v\u1eabn l\u00e0 y\u1ebfu t\u1ed1 quy\u1ebft \u0111\u1ecbnh. Dell \u0111\u00e3 \u0111\u1ecbnh v\u1ecb chi\u1ebfn l\u01b0\u1ee3c trong c\u00e1c ph\u00e2n kh\u00fac c\u00f4ng ngh\u1ec7 t\u0103ng tr\u01b0\u1edfng cao v\u1edbi \u0111\u01b0\u1eddng b\u0103ng m\u1edf r\u1ed9ng \u0111\u00e1ng k\u1ec3 v\u00e0 c\u1ea1nh tranh h\u1ea1n ch\u1ebf.\n\nKho\u1ea3n \u0111\u1ea7u t\u01b0 1.2 t\u1ef7 USD c\u1ee7a c\u00f4ng ty v\u00e0o c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng \u0111i\u1ec7n to\u00e1n bi\u00ean \u0111\u1ea1i di\u1ec7n cho vector t\u0103ng tr\u01b0\u1edfng h\u1ee9a h\u1eb9n nh\u1ea5t c\u1ee7a n\u00f3. Khi c\u00e1c t\u1ed5 ch\u1ee9c x\u1eed l\u00fd d\u1eef li\u1ec7u g\u1ea7n ngu\u1ed3n h\u01a1n thay v\u00ec trong c\u00e1c trung t\u00e2m d\u1eef li\u1ec7u t\u1eadp trung, c\u00e1c gi\u1ea3i ph\u00e1p bi\u00ean \u0111\u01b0\u1ee3c x\u00e2y d\u1ef1ng c\u00f3 m\u1ee5c \u0111\u00edch c\u1ee7a Dell \u0111\u00e3 ch\u1ee9ng ki\u1ebfn t\u1ef7 l\u1ec7 ch\u1ea5p nh\u1eadn t\u0103ng 43% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc. C\u00f4ng ty nghi\u00ean c\u1ee9u th\u1ecb tr\u01b0\u1eddng IDC d\u1ef1 b\u00e1o th\u1ecb tr\u01b0\u1eddng \u0111i\u1ec7n to\u00e1n bi\u00ean s\u1ebd t\u0103ng tr\u01b0\u1edfng v\u1edbi CAGR 37% \u0111\u1ebfn n\u0103m 2028, \u0111\u1ea1t 87 t\u1ef7 USD - t\u1ea1o ra c\u01a1 h\u1ed9i \u0111\u00e1ng k\u1ec3 cho c\u00e1c gi\u1ea3i ph\u00e1p hi\u1ec7n c\u00f3 v\u00e0 m\u1edbi n\u1ed5i c\u1ee7a Dell.\n<ul>\n \t<li>C\u01a1 s\u1edf h\u1ea1 t\u1ea7ng AI d\u1ef1 ki\u1ebfn t\u0103ng tr\u01b0\u1edfng 45% h\u00e0ng n\u0103m \u0111\u1ebfn n\u0103m 2027<\/li>\n \t<li>Gi\u1ea3i ph\u00e1p \u0111i\u1ec7n to\u00e1n bi\u00ean m\u1edf r\u1ed9ng v\u1edbi CAGR 37%<\/li>\n \t<li>C\u00f4ng c\u1ee5 qu\u1ea3n l\u00fd \u0111a \u0111\u00e1m m\u00e2y t\u0103ng tr\u01b0\u1edfng 28% h\u00e0ng n\u0103m<\/li>\n \t<li>T\u00edch h\u1ee3p an ninh m\u1ea1ng t\u0103ng gi\u00e1 b\u00e1n s\u1ea3n ph\u1ea9m trung b\u00ecnh 12-18%<\/li>\n \t<li>D\u1ecbch v\u1ee5 \u0111\u0103ng k\u00fd th\u00fac \u0111\u1ea9y t\u0103ng tr\u01b0\u1edfng 23% trong doanh thu \u0111\u1ecbnh k\u1ef3<\/li>\n<\/ul>\nBrightline Technologies, m\u1ed9t nh\u00e0 cung c\u1ea5p c\u00f4ng ngh\u1ec7 ch\u0103m s\u00f3c s\u1ee9c kh\u1ecfe v\u1edbi doanh thu h\u00e0ng n\u0103m 750 tri\u1ec7u USD, minh ch\u1ee9ng ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng c\u1ee7a Dell. Brightline \u0111\u00e3 tri\u1ec3n khai n\u1ec1n t\u1ea3ng \u0111i\u1ec7n to\u00e1n bi\u00ean PowerEdge XR4000 c\u1ee7a Dell t\u1ea1i 37 c\u01a1 s\u1edf y t\u1ebf, gi\u1ea3m \u0111\u1ed9 tr\u1ec5 x\u1eed l\u00fd h\u00ecnh \u1ea3nh t\u1eeb 1,200ms xu\u1ed1ng 264ms trong khi c\u1ea3i thi\u1ec7n tu\u00e2n th\u1ee7 HIPAA. Vi\u1ec7c tri\u1ec3n khai n\u00e0y t\u1ea1o ra 4.2 tri\u1ec7u USD ti\u1ebft ki\u1ec7m chi ph\u00ed h\u00e0ng n\u0103m so v\u1edbi c\u00e1c ph\u01b0\u01a1ng ph\u00e1p ch\u1ec9 s\u1eed d\u1ee5ng \u0111\u00e1m m\u00e2y, \u0111\u1ea1i di\u1ec7n cho ROI 213% trong ba n\u0103m trong khi c\u1ea3i thi\u1ec7n k\u1ebft qu\u1ea3 cho b\u1ec7nh nh\u00e2n.\n<h3>Quan H\u1ec7 \u0110\u1ed1i T\u00e1c Chi\u1ebfn L\u01b0\u1ee3c T\u0103ng C\u01b0\u1eddng Ti\u1ec1m N\u0103ng T\u0103ng Tr\u01b0\u1edfng<\/h3>\nC\u00e1c quan h\u1ec7 \u0111\u1ed1i t\u00e1c c\u1ee7a Dell v\u1edbi c\u00e1c nh\u00e0 l\u00e3nh \u0111\u1ea1o c\u00f4ng ngh\u1ec7 t\u1ea1o ra c\u00e1c c\u01a1 h\u1ed9i t\u0103ng tr\u01b0\u1edfng bi\u00ean l\u1ee3i nhu\u1eadn cao b\u1ed5 sung. Nh\u1eefng h\u1ee3p t\u00e1c n\u00e0y m\u1edf r\u1ed9ng kh\u1ea3 n\u0103ng c\u1ee7a Dell m\u00e0 kh\u00f4ng c\u1ea7n \u0111\u1ea7u t\u01b0 R&D l\u1edbn, c\u1ea3i thi\u1ec7n l\u1ee3i nhu\u1eadn tr\u00ean v\u1ed1n \u0111\u1ea7u t\u01b0 3.2 \u0111i\u1ec3m ph\u1ea7n tr\u0103m trong hai n\u0103m qua.\n<div class=\"table-container\">\n<table border=\"1\">\n<thead>\n<tr>\n<th>\u0110\u1ed1i T\u00e1c<\/th>\n<th>Tr\u1ecdng T\u00e2m H\u1ee3p T\u00e1c<\/th>\n<th>C\u01a1 H\u1ed9i Th\u1ecb Tr\u01b0\u1eddng<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>NVIDIA<\/td>\n<td>C\u01a1 s\u1edf h\u1ea1 t\u1ea7ng t\u1ed1i \u01b0u h\u00f3a AI<\/td>\n<td>93.5 t\u1ef7 USD v\u00e0o n\u0103m 2027<\/td>\n<\/tr>\n<tr>\n<td>Microsoft<\/td>\n<td>Gi\u1ea3i ph\u00e1p \u0111\u00e1m m\u00e2y lai<\/td>\n<td>148.8 t\u1ef7 USD v\u00e0o n\u0103m 2026<\/td>\n<\/tr>\n<tr>\n<td>VMware<\/td>\n<td>C\u01a1 s\u1edf h\u1ea1 t\u1ea7ng \u0111\u1ecbnh ngh\u0129a b\u1eb1ng ph\u1ea7n m\u1ec1m<\/td>\n<td>68.2 t\u1ef7 USD v\u00e0o n\u0103m 2025<\/td>\n<\/tr>\n<tr>\n<td>AWS<\/td>\n<td>Qu\u1ea3n l\u00fd \u0111a \u0111\u00e1m m\u00e2y<\/td>\n<td>107.1 t\u1ef7 USD v\u00e0o n\u0103m 2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\nC\u00e1c nh\u00e0 ph\u00e2n t\u00edch t\u1ea1i Pocket Option \u0111\u00e3 nh\u1ea5n m\u1ea1nh nh\u1eefng quan h\u1ec7 \u0111\u1ed1i t\u00e1c n\u00e0y l\u00e0 t\u00e0i s\u1ea3n b\u1ecb \u0111\u00e1nh gi\u00e1 th\u1ea5p nh\u1ea5t c\u1ee7a Dell. Ch\u1ec9 ri\u00eang s\u1ef1 h\u1ee3p t\u00e1c v\u1edbi NVIDIA \u0111\u00e3 t\u1ea1o ra 1.7 t\u1ef7 USD doanh thu bi\u00ean l\u1ee3i nhu\u1eadn cao t\u1eeb c\u00e1c m\u00e1y ch\u1ee7 t\u1ed1i \u01b0u h\u00f3a AI. C\u00e1ch ti\u1ebfp c\u1eadn \"\u01b0u ti\u00ean \u0111\u1ed1i t\u00e1c\" c\u1ee7a Dell mang l\u1ea1i bi\u00ean l\u1ee3i nhu\u1eadn cao h\u01a1n 27% so v\u1edbi c\u00e1c gi\u1ea3i ph\u00e1p ph\u00e1t tri\u1ec3n n\u1ed9i b\u1ed9 trong khi t\u0103ng t\u1ed1c th\u1eddi gian ra th\u1ecb tr\u01b0\u1eddng 40% - m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c li\u00ean t\u1ee5c t\u1ea1o ra l\u1ee3i nhu\u1eadn v\u01b0\u1ee3t tr\u1ed9i tr\u00ean v\u1ed1n \u0111\u1ea7u t\u01b0.\n<h2>\u0110\u00e1nh Gi\u00e1 R\u1ee7i Ro cho C\u00e1c Nh\u00e0 \u0110\u1ea7u T\u01b0 Ti\u1ec1m N\u0103ng<\/h2>\nX\u00e1c \u0111\u1ecbnh li\u1ec7u Dell c\u00f3 ph\u1ea3i l\u00e0 m\u1ed9t c\u1ed5 phi\u1ebfu t\u1ed1t \u0111\u1ec3 mua \u0111\u00f2i h\u1ecfi \u0111\u00e1nh gi\u00e1 r\u1ee7i ro k\u1ef9 l\u01b0\u1ee1ng c\u00f9ng v\u1edbi tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng. Dell \u0111\u1ed1i m\u1eb7t v\u1edbi m\u1ed9t s\u1ed1 th\u00e1ch th\u1ee9c c\u00f3 th\u1ec3 \u0111\u1ecbnh l\u01b0\u1ee3ng m\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1eadn tr\u1ecdng ph\u1ea3i c\u00e2n nh\u1eafc tr\u01b0\u1edbc khi \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh ph\u00e2n b\u1ed5.\n\nT\u00ednh chu k\u1ef3 c\u1ee7a th\u1ecb tr\u01b0\u1eddng PC v\u1eabn l\u00e0 \u0111i\u1ec3m y\u1ebfu ch\u00ednh c\u1ee7a Dell. M\u1eb7c d\u00f9 \u0111\u00e3 gi\u1ea3m s\u1ef1 ph\u1ee5 thu\u1ed9c v\u00e0o PC ti\u00eau d\u00f9ng t\u1eeb 65% xu\u1ed1ng 37% doanh thu k\u1ec3 t\u1eeb n\u0103m 2013, ph\u00e2n kh\u00fac n\u00e0y v\u1eabn \u0111\u00f3ng g\u00f3p \u0111\u00e1ng k\u1ec3 v\u00e0o l\u1ee3i nhu\u1eadn. Khi chu k\u1ef3 thay th\u1ebf PC k\u00e9o d\u00e0i t\u1eeb 4.2 \u0111\u1ebfn 5.7 n\u0103m trong giai \u0111o\u1ea1n 2020-2022, doanh thu ti\u00eau d\u00f9ng c\u1ee7a Dell gi\u1ea3m 16%, minh h\u1ecda r\u1ee7i ro chu k\u1ef3 dai d\u1eb3ng c\u1ee7a ph\u00e2n kh\u00fac n\u00e0y.\n<div class=\"table-container\">\n<table border=\"1\">\n<thead>\n<tr>\n<th>Y\u1ebfu T\u1ed1 R\u1ee7i Ro<\/th>\n<th>T\u00e1c \u0110\u1ed9ng Ti\u1ec1m N\u0103ng<\/th>\n<th>C\u00e2n Nh\u1eafc Gi\u1ea3m Thi\u1ec3u<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>T\u00ednh Chu K\u1ef3 Th\u1ecb Tr\u01b0\u1eddng PC<\/td>\n<td>Cao - 37% doanh thu b\u1ecb \u1ea3nh h\u01b0\u1edfng<\/td>\n<td>Ph\u00e2n kh\u00fac PC doanh nghi\u1ec7p t\u0103ng tr\u01b0\u1edfng 5.3% so v\u1edbi ti\u00eau d\u00f9ng 2.1%<\/td>\n<\/tr>\n<tr>\n<td>Gi\u00e1n \u0110o\u1ea1n Chu\u1ed7i Cung \u1ee8ng<\/td>\n<td>Trung B\u00ecnh - Tr\u00ec ho\u00e3n s\u1ea3n xu\u1ea5t 8-12 tu\u1ea7n trong c\u00e1c chu k\u1ef3 g\u1ea7n \u0111\u00e2y<\/td>\n<td>S\u1ea3n xu\u1ea5t t\u1ea1i 25 qu\u1ed1c gia v\u1edbi 73% d\u01b0 th\u1eeba th\u00e0nh ph\u1ea7n<\/td>\n<\/tr>\n<tr>\n<td>\u00c1p L\u1ef1c C\u1ea1nh Tranh<\/td>\n<td>Trung B\u00ecnh - R\u1ee7i ro n\u00e9n bi\u00ean l\u1ee3i nhu\u1eadn h\u00e0ng n\u0103m 0.5-0.7%<\/td>\n<td>L\u1ee3i th\u1ebf quy m\u00f4 v\u1edbi chi ph\u00ed th\u00e0nh ph\u1ea7n th\u1ea5p h\u01a1n 14% so v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 nh\u1ecf h\u01a1n<\/td>\n<\/tr>\n<tr>\n<td>R\u1ee7i Ro Chuy\u1ec3n \u0110\u1ed5i C\u00f4ng Ngh\u1ec7<\/td>\n<td>Trung B\u00ecnh - Ti\u1ec1m n\u0103ng t\u1ed5n th\u1ea5t doanh thu 7-9 t\u1ef7 USD<\/td>\n<td>\u0110\u1ea7u t\u01b0 R&D h\u00e0ng n\u0103m 4.5 t\u1ef7 USD v\u00e0 21 th\u01b0\u01a1ng v\u1ee5 mua l\u1ea1i chi\u1ebfn l\u01b0\u1ee3c k\u1ec3 t\u1eeb n\u0103m 2018<\/td>\n<\/tr>\n<tr>\n<td>M\u1ee9c N\u1ee3<\/td>\n<td>Trung B\u00ecnh-Th\u1ea5p - N\u1ee3 c\u00f2n l\u1ea1i 18.1 t\u1ef7 USD<\/td>\n<td>Kh\u1ea3 n\u0103ng chi tr\u1ea3 b\u1eb1ng d\u00f2ng ti\u1ec1n 3.7x v\u00e0 k\u1ebf ho\u1ea1ch gi\u1ea3m n\u1ee3 h\u00e0ng n\u0103m 2.1 t\u1ef7 USD<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\nC\u00e1c l\u1ed7 h\u1ed5ng chu\u1ed7i cung \u1ee9ng \u0111\u00e3 b\u1ecb ph\u01a1i b\u00e0y nhi\u1ec1u l\u1ea7n k\u1ec3 t\u1eeb n\u0103m 2020. M\u1eb7c d\u00f9 Dell qu\u1ea3n l\u00fd nh\u1eefng th\u00e1ch th\u1ee9c n\u00e0y t\u1ed1t h\u01a1n c\u00e1c \u0111\u1ed1i th\u1ee7 (94% ho\u00e0n th\u00e0nh \u0111\u01a1n h\u00e0ng so v\u1edbi m\u1ee9c trung b\u00ecnh ng\u00e0nh 87%), thi\u1ebfu h\u1ee5t th\u00e0nh ph\u1ea7n \u0111\u00e3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn bi\u00ean l\u1ee3i nhu\u1eadn g\u1ed9p 1.3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m trong c\u00e1c giai \u0111o\u1ea1n gi\u00e1n \u0111o\u1ea1n \u0111\u1ec9nh \u0111i\u1ec3m. M\u1ea1ng l\u01b0\u1edbi nh\u00e0 cung c\u1ea5p m\u1edf r\u1ed9ng c\u1ee7a Dell hi\u1ec7n bao g\u1ed3m 127 nh\u00e0 cung c\u1ea5p ch\u00ednh v\u00e0 215 nh\u00e0 cung c\u1ea5p d\u1ef1 ph\u00f2ng t\u1ea1i 25 qu\u1ed1c gia, c\u1ea3i thi\u1ec7n \u0111\u00e1ng k\u1ec3 kh\u1ea3 n\u0103ng ph\u1ee5c h\u1ed3i.\n\nC\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1eed d\u1ee5ng c\u00f4ng c\u1ee5 ch\u1ea5m \u0111i\u1ec3m r\u1ee7i ro ti\u00ean ti\u1ebfn c\u1ee7a Pocket Option \u0111\u00e3 x\u00e1c \u0111\u1ecbnh n\u1ee3 c\u1ee7a Dell l\u00e0 m\u1ed9t y\u1ebfu t\u1ed1 \u0111i\u1ec1u ti\u1ebft. M\u1eb7c d\u00f9 \u0111\u00e3 gi\u1ea3m 58% k\u1ec3 t\u1eeb khi mua l\u1ea1i EMC, kho\u1ea3n n\u1ee3 18.1 t\u1ef7 USD c\u1ee7a Dell y\u00eau c\u1ea7u 820 tri\u1ec7u USD thanh to\u00e1n l\u00e3i h\u00e0ng n\u0103m c\u00f3 th\u1ec3 h\u1ea1n ch\u1ebf s\u1ef1 linh ho\u1ea1t trong c\u00e1c cu\u1ed9c suy tho\u00e1i kinh t\u1ebf. Tuy nhi\u00ean, d\u00f2ng ti\u1ec1n h\u00e0ng n\u0103m 9.3 t\u1ef7 USD c\u1ee7a c\u00f4ng ty v\u00e0 k\u1ebf ho\u1ea1ch gi\u1ea3m n\u1ee3 c\u00f3 c\u1ea5u tr\u00fac nh\u1eafm m\u1ee5c ti\u00eau 1.5x EBITDA v\u00e0o n\u0103m 2026 gi\u1ea3m thi\u1ec3u \u0111\u00e1ng k\u1ec3 m\u1ed1i lo ng\u1ea1i n\u00e0y.\n<h2>Ph\u00e2n T\u00edch \u0110\u1ecbnh Gi\u00e1 v\u00e0 \u0110i\u1ec3m V\u00e0o<\/h2>\n\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111ang c\u00e2n nh\u1eafc li\u1ec7u c\u1ed5 phi\u1ebfu Dell c\u00f3 ph\u1ea3i l\u00e0 m\u1ed9t l\u1ef1a ch\u1ecdn t\u1ed1t, c\u00e1c ch\u1ec9 s\u1ed1 \u0111\u1ecbnh gi\u00e1 hi\u1ec7n t\u1ea1i so v\u1edbi m\u1ee9c trung b\u00ecnh l\u1ecbch s\u1eed v\u00e0 ti\u00eau chu\u1ea9n ng\u00e0nh cung c\u1ea5p h\u01b0\u1edbng d\u1eabn \u0111i\u1ec3m v\u00e0o thi\u1ebft y\u1ebfu. Dell giao d\u1ecbch \u1edf m\u1ed9t h\u1ed3 s\u01a1 \u0111\u1ecbnh gi\u00e1 ph\u1ee9c t\u1ea1p \u0111\u00f2i h\u1ecfi s\u1ef1 gi\u1ea3i th\u00edch tinh t\u1ebf.\n<div class=\"table-container\">\n<table border=\"1\">\n<thead>\n<tr>\n<th>Ch\u1ec9 S\u1ed1 \u0110\u1ecbnh Gi\u00e1<\/th>\n<th>Dell Hi\u1ec7n T\u1ea1i<\/th>\n<th>Trung B\u00ecnh 5 N\u0103m c\u1ee7a Dell<\/th>\n<th>Trung B\u00ecnh Ng\u00e0nh<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>T\u1ef7 L\u1ec7 P\/E (TTM)<\/td>\n<td>13.2x<\/td>\n<td>11.7x<\/td>\n<td>18.4x<\/td>\n<\/tr>\n<tr>\n<td>Forward P\/E<\/td>\n<td>11.8x<\/td>\n<td>10.5x<\/td>\n<td>16.7x<\/td>\n<\/tr>\n<tr>\n<td>Gi\u00e1 tr\u00ean Doanh Thu<\/td>\n<td>0.78x<\/td>\n<td>0.62x<\/td>\n<td>1.95x<\/td>\n<\/tr>\n<tr>\n<td>EV\/EBITDA<\/td>\n<td>8.6x<\/td>\n<td>7.3x<\/td>\n<td>12.1x<\/td>\n<\/tr>\n<tr>\n<td>Gi\u00e1 tr\u00ean D\u00f2ng Ti\u1ec1n T\u1ef1 Do<\/td>\n<td>9.4x<\/td>\n<td>8.1x<\/td>\n<td>14.3x<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\nC\u00e1c ch\u1ec9 s\u1ed1 n\u00e0y ti\u1ebft l\u1ed9 Dell giao d\u1ecbch \u1edf m\u1ee9c cao h\u01a1n 12.8% so v\u1edbi m\u1ee9c trung b\u00ecnh l\u1ecbch s\u1eed c\u1ee7a n\u00f3 nh\u01b0ng duy tr\u00ec m\u1ee9c chi\u1ebft kh\u1ea5u \u0111\u00e1ng k\u1ec3 28.3% so v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 ng\u00e0nh. V\u1ecb tr\u00ed n\u00e0y t\u1ea1o ra m\u1ed9t th\u00e1ch th\u1ee9c ph\u00e2n t\u00edch: x\u00e1c \u0111\u1ecbnh li\u1ec7u c\u00e1c s\u00e1ng ki\u1ebfn t\u0103ng tr\u01b0\u1edfng \u0111ang t\u0103ng t\u1ed1c c\u1ee7a Dell c\u00f3 bi\u1ec7n minh cho c\u00e1c b\u1ed9i s\u1ed1 cao h\u01a1n ph\u1ea1m vi l\u1ecbch s\u1eed c\u1ee7a n\u00f3 trong khi \u0111\u00e1nh gi\u00e1 li\u1ec7u chi\u1ebft kh\u1ea5u ng\u00e0nh c\u00f3 c\u00f2n \u0111\u01b0\u1ee3c b\u1ea3o \u0111\u1ea3m hay kh\u00f4ng khi x\u00e9t \u0111\u1ebfn h\u1ed3 s\u01a1 bi\u00ean l\u1ee3i nhu\u1eadn c\u1ea3i thi\u1ec7n c\u1ee7a Dell.\n\nC\u00e1ch ti\u1ebfp c\u1eadn c\u1ee7a qu\u1ea3n l\u00fd danh m\u1ee5c \u0111\u1ea7u t\u01b0 Sarah Chen minh h\u1ecda ph\u00e2n t\u00edch \u0111\u1ecbnh gi\u00e1 tinh vi. Chen, ng\u01b0\u1eddi th\u01b0\u1eddng xuy\u00ean s\u1eed d\u1ee5ng c\u00f4ng c\u1ee5 m\u00f4 h\u00ecnh DCF \u0111\u1ed9c quy\u1ec1n c\u1ee7a Pocket Option, \u0111\u00e3 ph\u00e1t tri\u1ec3n m\u1ed9t lu\u1eadn \u0111i\u1ec3m \u0111\u1ea7u t\u01b0 Dell b\u1eb1ng c\u00e1ch s\u1eed d\u1ee5ng m\u00f4 h\u00ecnh d\u00f2ng ti\u1ec1n nhi\u1ec1u giai \u0111o\u1ea1n v\u1edbi c\u00e1c gi\u1ea3 \u0111\u1ecbnh gi\u00e1 tr\u1ecb cu\u1ed1i c\u00f9ng c\u1ee5 th\u1ec3 cho t\u1eebng ph\u00e2n kh\u00fac kinh doanh.\n\n\"M\u00f4 h\u00ecnh DCF ph\u00e2n \u0111o\u1ea1n c\u1ee7a t\u00f4i \u0111\u1ecbnh gi\u00e1 Nh\u00f3m Gi\u1ea3i Ph\u00e1p H\u1ea1 T\u1ea7ng \u1ed5n \u0111\u1ecbnh c\u1ee7a Dell \u1edf m\u1ee9c 10.5x EBITDA v\u00e0 c\u00e1c ph\u00e2n kh\u00fac t\u0103ng tr\u01b0\u1edfng cao h\u01a1n c\u1ee7a n\u00f3 \u1edf m\u1ee9c 13.8x EBITDA,\" Chen gi\u1ea3i th\u00edch t\u1ea1i Di\u1ec5n \u0111\u00e0n Nh\u00e0 \u0110\u1ea7u T\u01b0 T\u1ed5 Ch\u1ee9c 2024. \"C\u00e1ch ti\u1ebfp c\u1eadn c\u00f3 tr\u1ecdng s\u1ed1 n\u00e0y mang l\u1ea1i \u01b0\u1edbc t\u00ednh gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd l\u00e0 137.85 USD m\u1ed7i c\u1ed5 phi\u1ebfu - cao h\u01a1n kho\u1ea3ng 17% so v\u1edbi gi\u00e1 giao d\u1ecbch hi\u1ec7n t\u1ea1i - cung c\u1ea5p c\u1ea3 ti\u1ec1m n\u0103ng t\u0103ng gi\u00e1 v\u00e0 bi\u00ean \u0111\u1ed9 an to\u00e0n \u0111\u00e1ng k\u1ec3.\"\n<h3>C\u00e2n Nh\u1eafc Ph\u00e2n T\u00edch K\u1ef9 Thu\u1eadt<\/h3>\n\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 k\u1ebft h\u1ee3p c\u00e1c y\u1ebfu t\u1ed1 k\u1ef9 thu\u1eadt, Dell th\u1ec3 hi\u1ec7n m\u1ed9t s\u1ed1 m\u00f4 h\u00ecnh c\u00f3 th\u1ec3 h\u00e0nh \u0111\u1ed9ng. C\u1ed5 phi\u1ebfu \u0111\u00e3 thi\u1ebft l\u1eadp c\u00e1c m\u1ee9c h\u1ed7 tr\u1ee3 t\u0103ng d\u1ea7n \u1edf m\u1ee9c 87 USD, 93 USD, v\u00e0 102 USD trong m\u01b0\u1eddi t\u00e1m th\u00e1ng, t\u1ea1o ra m\u1ed9t m\u00f4 h\u00ecnh b\u1eadc thang c\u1ee7a c\u00e1c m\u1ee9c th\u1ea5p h\u01a1n cao h\u01a1n. Trong khi \u0111\u00f3, c\u00e1c m\u1ee9c kh\u00e1ng c\u1ef1 \u1edf m\u1ee9c 118 USD v\u00e0 125 USD \u0111\u00e3 \u0111\u01b0\u1ee3c th\u1eed nghi\u1ec7m nhi\u1ec1u l\u1ea7n v\u00e0 cu\u1ed1i c\u00f9ng b\u1ecb ph\u00e1 v\u1ee1 v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng t\u0103ng.\n<ul>\n \t<li>C\u00e1c m\u1ee9c h\u1ed7 tr\u1ee3 \u0111\u00e3 \u0111\u01b0\u1ee3c c\u1ee7ng c\u1ed1 v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng cao h\u01a1n 27% \u1edf m\u1ed7i l\u1ea7n th\u1eed nghi\u1ec7m<\/li>\n \t<li>C\u00e1c m\u00f4 h\u00ecnh t\u00edch l\u0169y cho th\u1ea5y t\u1ef7 l\u1ec7 kh\u1ed1i l\u01b0\u1ee3ng mua\/b\u00e1n 3:1 trong th\u1eddi k\u1ef3 y\u1ebfu k\u00e9m c\u1ee7a th\u1ecb tr\u01b0\u1eddng r\u1ed9ng h\u01a1n<\/li>\n \t<li>C\u00e1c giao c\u1eaft trung b\u00ecnh \u0111\u1ed9ng 50\/200 ng\u00e0y \u0111\u00e3 d\u1ef1 \u0111o\u00e1n 75% c\u00e1c \u0111\u1ed9ng th\u00e1i l\u1edbn<\/li>\n \t<li>S\u1ee9c m\u1ea1nh t\u01b0\u01a1ng \u0111\u1ed1i so v\u1edbi ETF c\u00f4ng ngh\u1ec7 XLK \u0111\u00e3 c\u1ea3i thi\u1ec7n t\u1eeb 0.72 l\u00ean 0.88 trong s\u00e1u qu\u00fd<\/li>\n<\/ul>\nC\u00e1c nh\u00e0 giao d\u1ecbch s\u1eed d\u1ee5ng c\u00f4ng c\u1ee5 nh\u1eadn di\u1ec7n m\u00f4 h\u00ecnh bi\u1ec3u \u0111\u1ed3 ti\u00ean ti\u1ebfn c\u1ee7a Pocket Option \u0111\u00e3 x\u00e1c \u0111\u1ecbnh s\u1ee9c m\u1ea1nh t\u01b0\u01a1ng \u0111\u1ed1i c\u1ea3i thi\u1ec7n c\u1ee7a Dell so v\u1edbi Nasdaq 100 l\u00e0 \u0111\u1eb7c bi\u1ec7t \u0111\u00e1ng ch\u00fa \u00fd. M\u1ed1i t\u01b0\u01a1ng quan 60 ng\u00e0y c\u1ee7a c\u1ed5 phi\u1ebfu v\u1edbi ch\u1ec9 s\u1ed1 \u0111\u00e3 gi\u1ea3m t\u1eeb 0.87 xu\u1ed1ng 0.63, cho th\u1ea5y Dell \u0111\u00e3 ph\u00e1t tri\u1ec3n c\u00e1c \u0111\u1ed9ng l\u1ef1c c\u1ee5 th\u1ec3 c\u1ee7a c\u00f4ng ty ngo\u00e0i \u0111\u1ed9ng l\u1ef1c c\u1ee7a ng\u00e0nh c\u00f4ng ngh\u1ec7 r\u1ed9ng h\u01a1n. Beta c\u1ee7a c\u1ed5 phi\u1ebfu \u0111\u00e3 gi\u1ea3m t\u1eeb 1.67 xu\u1ed1ng 1.21, cho th\u1ea5y r\u1ee7i ro bi\u1ebfn \u0111\u1ed9ng gi\u1ea3m ngay c\u1ea3 trong th\u1eddi k\u1ef3 bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng.\n<h2>Chi\u1ebfn L\u01b0\u1ee3c \u0110\u1ea7u T\u01b0 cho C\u00e1c H\u1ed3 S\u01a1 Nh\u00e0 \u0110\u1ea7u T\u01b0 Kh\u00e1c Nhau<\/h2>\nC\u00e2u h\u1ecfi \"c\u00f3 n\u00ean mua c\u1ed5 phi\u1ebfu Dell kh\u00f4ng\" c\u00f3 nh\u1eefng c\u00e2u tr\u1ea3 l\u1eddi kh\u00e1c nhau t\u00f9y thu\u1ed9c v\u00e0o m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0, th\u1eddi gian v\u00e0 kh\u1ea3 n\u0103ng ch\u1ecbu r\u1ee7i ro. C\u00e1c h\u1ed3 s\u01a1 nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00e1c nhau n\u00ean ti\u1ebfp c\u1eadn Dell v\u1edbi c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh ph\u00f9 h\u1ee3p v\u1edbi m\u1ee5c ti\u00eau c\u1ee7a h\u1ecd.\n<div class=\"table-container\">\n<table border=\"1\">\n<thead>\n<tr>\n<th>H\u1ed3 S\u01a1 Nh\u00e0 \u0110\u1ea7u T\u01b0<\/th>\n<th>Chi\u1ebfn L\u01b0\u1ee3c Dell Ti\u1ec1m N\u0103ng<\/th>\n<th>C\u00e2n Nh\u1eafc Ph\u00e2n B\u1ed5 Danh M\u1ee5c<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Nh\u00e0 \u0110\u1ea7u T\u01b0 T\u0103ng Tr\u01b0\u1edfng<\/td>\n<td>T\u1eadp trung v\u00e0o CAGR 35% c\u1ee7a Dell trong AI, \u0111i\u1ec7n to\u00e1n bi\u00ean<\/td>\n<td>Ph\u00e2n b\u1ed5 5-8% v\u1edbi t\u1ef7 l\u1ec7 m\u1edf r\u1ed9ng v\u1ecb tr\u00ed 25% khi gi\u00e1 gi\u1ea3m<\/td>\n<\/tr>\n<tr>\n<td>Nh\u00e0 \u0110\u1ea7u T\u01b0 Gi\u00e1 Tr\u1ecb<\/td>\n<td>Nh\u1ea5n m\u1ea1nh chi\u1ebft kh\u1ea5u \u0111\u1ecbnh gi\u00e1 28.3%, b\u1ed9i s\u1ed1 FCF 9.4x<\/td>\n<td>V\u1ecb tr\u00ed c\u1ed1t l\u00f5i 3-6% v\u1edbi b\u1ed5 sung chi\u1ebfn thu\u1eadt 2% d\u01b0\u1edbi 10x FCF<\/td>\n<\/tr>\n<tr>\n<td>Nh\u00e0 \u0110\u1ea7u T\u01b0 Thu Nh\u1eadp<\/td>\n<td>Ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng c\u1ed5 t\u1ee9c v\u1edbi m\u1ee9c t\u0103ng h\u00e0ng n\u0103m 12%<\/td>\n<td>Ph\u00e2n b\u1ed5 2-4% v\u1edbi \u0111\u0103ng k\u00fd DRIP \u0111\u1ec3 t\u0103ng tr\u01b0\u1edfng k\u00e9p<\/td>\n<\/tr>\n<tr>\n<td>Nh\u00e0 \u0110\u1ea7u T\u01b0 C\u00e2n B\u1eb1ng<\/td>\n<td>N\u1eafm gi\u1eef c\u00f4ng ngh\u1ec7 c\u1ed1t l\u00f5i v\u1edbi bi\u00ean l\u1ee3i nhu\u1eadn ho\u1ea1t \u0111\u1ed9ng 9.2%<\/td>\n<td>Ph\u00e2n b\u1ed5 3-5% v\u1edbi c\u00e2n b\u1eb1ng l\u1ea1i h\u00e0ng qu\u00fd so v\u1edbi m\u1ee5c ti\u00eau<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\nC\u00e2u l\u1ea1c b\u1ed9 \"Nh\u00e0 \u0110\u1ea7u T\u01b0 T\u01b0\u01a1ng Lai C\u00f4ng Ngh\u1ec7\" minh h\u1ecda c\u00e1ch ti\u1ebfp c\u1eadn c\u00e2n b\u1eb1ng \u0111\u1ed1i v\u1edbi v\u1ecb tr\u00ed c\u1ee7a Dell. Nh\u00f3m \u0111\u1ea7u t\u01b0 12 th\u00e0nh vi\u00ean n\u00e0y \u0111\u00e3 cam k\u1ebft 240,000 USD (4% danh m\u1ee5c \u0111\u1ea7u t\u01b0 6 tri\u1ec7u USD c\u1ee7a h\u1ecd) v\u00e0o Dell v\u00e0o th\u00e1ng 8 n\u0103m 2020 khi c\u1ed5 phi\u1ebfu giao d\u1ecbch \u1edf m\u1ee9c 61.78 USD, coi \u0111\u00f3 l\u00e0 m\u1ed9t \"kho\u1ea3n \u0111\u1ea7u t\u01b0 barbell\" c\u00e2n b\u1eb1ng thu nh\u1eadp \u0111i\u1ec1u ch\u1ec9nh c\u1ed5 t\u1ee9c 6.3% v\u1edbi ti\u1ebfp x\u00fac v\u1edbi t\u0103ng tr\u01b0\u1edfng h\u00e0ng n\u0103m 27% trong \u0111i\u1ec7n to\u00e1n bi\u00ean. V\u1ecb tr\u00ed c\u1ee7a h\u1ecd \u0111\u00e3 t\u0103ng l\u00ean 450,120 USD, v\u01b0\u1ee3t tr\u1ed9i h\u01a1n ti\u00eau chu\u1ea9n c\u00f4ng ngh\u1ec7 c\u1ee7a h\u1ecd 23 \u0111i\u1ec3m ph\u1ea7n tr\u0103m.\n\nC\u00e2u l\u1ea1c b\u1ed9 \u0111\u00e3 \u00e1p d\u1ee5ng chi\u1ebfn l\u01b0\u1ee3c k\u1ef7 lu\u1eadt thi\u1ebft l\u1eadp v\u1ecb tr\u00ed ban \u0111\u1ea7u 180,000 USD c\u1ee7a h\u1ecd trong th\u1eddi k\u1ef3 y\u1ebfu k\u00e9m c\u1ee7a th\u1ecb tr\u01b0\u1eddng, sau \u0111\u00f3 th\u00eam 60,000 USD trong \u0111\u1ee3t \u0111i\u1ec1u ch\u1ec9nh ng\u00e0nh c\u00f4ng ngh\u1ec7 th\u00e1ng 5 n\u0103m 2022 khi Dell gi\u1ea3m xu\u1ed1ng 49.58 USD. C\u00e1ch ti\u1ebfp c\u1eadn n\u00e0y minh h\u1ecda chi\u1ebfn l\u01b0\u1ee3c trung b\u00ecnh gi\u00e1 m\u00e0 kh\u00e1ch h\u00e0ng c\u1ee7a Pocket Option th\u01b0\u1eddng s\u1eed d\u1ee5ng khi x\u00e2y d\u1ef1ng v\u1ecb tr\u00ed trong c\u00e1c c\u00f4ng ty c\u00f3 n\u1ec1n t\u1ea3ng v\u1eefng ch\u1eafc \u0111ang tr\u1ea3i qua bi\u1ebfn \u0111\u1ed9ng t\u1ea1m th\u1eddi.\n<h3>C\u00e2n Nh\u1eafc T\u00edch H\u1ee3p Danh M\u1ee5c<\/h3>\nKhi \u0111\u00e1nh gi\u00e1 li\u1ec7u c\u1ed5 phi\u1ebfu Dell c\u00f3 ph\u1ea3i l\u00e0 m\u1ed9t l\u1ef1a ch\u1ecdn t\u1ed1t cho t\u00ecnh hu\u1ed1ng c\u1ee5 th\u1ec3 c\u1ee7a b\u1ea1n, c\u00e1c kh\u00eda c\u1ea1nh t\u00edch h\u1ee3p danh m\u1ee5c \u1ea3nh h\u01b0\u1edfng \u0111\u00e1ng k\u1ec3 \u0111\u1ebfn t\u1ed5ng l\u1ee3i nhu\u1eadn. H\u1ec7 s\u1ed1 t\u01b0\u01a1ng quan 0.63 c\u1ee7a Dell v\u1edbi c\u00e1c kho\u1ea3n n\u1eafm gi\u1eef c\u00f4ng ngh\u1ec7 \u0111i\u1ec3n h\u00ecnh \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn l\u1ee3i \u00edch \u0111a d\u1ea1ng h\u00f3a trong khi beta 1.21 c\u1ee7a n\u00f3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn s\u1ef1 bi\u1ebfn \u0111\u1ed9ng t\u1ed5ng th\u1ec3 c\u1ee7a danh m\u1ee5c.\n<ul>\n \t<li>Dell cho th\u1ea5y \u0111\u1ed9 bi\u1ebfn \u0111\u1ed9ng 30 ng\u00e0y th\u1ea5p h\u01a1n 42% so v\u1edbi c\u00e1c c\u00f4ng ty ph\u1ea7n m\u1ec1m thu\u1ea7n t\u00fay<\/li>\n \t<li>T\u01b0\u01a1ng quan 0.51 v\u1edbi c\u1ed5 phi\u1ebfu ti\u00eau d\u00f9ng kh\u00f4ng thi\u1ebft y\u1ebfu t\u0103ng c\u01b0\u1eddng \u0111a d\u1ea1ng h\u00f3a<\/li>\n \t<li>43% doanh thu qu\u1ed1c t\u1ebf cung c\u1ea5p b\u1ea3o hi\u1ec3m ti\u1ec1n t\u1ec7 v\u00e0 \u0111\u1ecba l\u00fd<\/li>\n \t<li>T\u0103ng tr\u01b0\u1edfng doanh thu d\u1ecbch v\u1ee5 7.3% trong n\u0103m 2022 v\u1edbi l\u1ea1m ph\u00e1t 8.3% ch\u1ee9ng t\u1ecf s\u1ee9c m\u1ea1nh \u0111\u1ecbnh gi\u00e1<\/li>\n<\/ul>\nC\u1ed1 v\u1ea5n t\u00e0i ch\u00ednh Thomas Merritt, ng\u01b0\u1eddi qu\u1ea3n l\u00fd 780 tri\u1ec7u USD cho c\u00e1c gi\u00e1m \u0111\u1ed1c \u0111i\u1ec1u h\u00e0nh c\u00f4ng ngh\u1ec7, khuy\u1ebfn ngh\u1ecb kh\u00e1ch h\u00e0ng \u0111\u00e1nh gi\u00e1 c\u1ea9n th\u1eadn s\u1ef1 ti\u1ebfp x\u00fac ng\u00e0nh hi\u1ec7n c\u00f3 tr\u01b0\u1edbc khi th\u00eam Dell. \"\u0110\u1ed1i v\u1edbi c\u00e1c danh m\u1ee5c c\u00f3 ph\u00e2n b\u1ed5 \u0111\u00e1ng k\u1ec3 cho c\u00e1c nh\u00e0 cung c\u1ea5p SaaS ho\u1eb7c nh\u00e0 s\u1ea3n xu\u1ea5t ch\u1ea5t b\u00e1n d\u1eabn, Dell cung c\u1ea5p s\u1ef1 ti\u1ebfp x\u00fac b\u1ed5 sung v\u1edbi \u0111\u1ed9 bi\u1ebfn \u0111\u1ed9ng th\u1ea5p h\u01a1n 42% v\u00e0 s\u1ef1 ch\u1ed3ng ch\u00e9o doanh thu t\u1ed1i thi\u1ec3u,\" Merritt gi\u1ea3i th\u00edch. \"Ng\u01b0\u1ee3c l\u1ea1i, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 tr\u1ecdng s\u1ed1 l\u1edbn trong c\u00e1c ng\u00e0nh gi\u00e1 tr\u1ecb truy\u1ec1n th\u1ed1ng c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng Dell nh\u01b0 m\u1ed9t ph\u00e2n b\u1ed5 c\u00f4ng ngh\u1ec7 v\u1edbi r\u1ee7i ro gi\u1ea3m gi\u00e1 \u00edt h\u01a1n so v\u1edbi c\u00e1c t\u00ean tu\u1ed5i t\u0103ng tr\u01b0\u1edfng thu\u1ea7n t\u00fay.\"\n\nC\u00f4ng c\u1ee5 ma tr\u1eadn t\u01b0\u01a1ng quan c\u1ee7a Pocket Option gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00ednh to\u00e1n c\u00e1ch Dell s\u1ebd \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn l\u1ee3i nhu\u1eadn \u0111i\u1ec1u ch\u1ec9nh r\u1ee7i ro c\u1ee7a danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a h\u1ecd. Ki\u1ec3m tra ng\u01b0\u1ee3c cho th\u1ea5y th\u00eam ph\u00e2n b\u1ed5 4% Dell v\u00e0o m\u1ed9t danh m\u1ee5c ti\u00eau chu\u1ea9n 60\/40 c\u1ea3i thi\u1ec7n t\u1ef7 l\u1ec7 Sharpe 0.17 \u0111i\u1ec3m trong khi gi\u1ea3m m\u1ee9c gi\u1ea3m t\u1ed1i \u0111a 2.3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m trong giai \u0111o\u1ea1n 2020-2022.\n<h2>Quan \u0110i\u1ec3m Chuy\u00ean Gia v\u00e0 Ph\u1ee7 S\u00f3ng c\u1ee7a Nh\u00e0 Ph\u00e2n T\u00edch<\/h2>\nKhi x\u00e1c \u0111\u1ecbnh li\u1ec7u Dell c\u00f3 ph\u1ea3i l\u00e0 m\u1ed9t c\u1ed5 phi\u1ebfu t\u1ed1t \u0111\u1ec3 mua, quan \u0111i\u1ec3m c\u1ee7a c\u00e1c nh\u00e0 ph\u00e2n t\u00edch chuy\u00ean nghi\u1ec7p cung c\u1ea5p b\u1ed1i c\u1ea3nh c\u00f3 gi\u00e1 tr\u1ecb. Ph\u1ee7 s\u00f3ng c\u1ee7a Wall Street v\u1ec1 Dell bao g\u1ed3m 38 nh\u00e0 ph\u00e2n t\u00edch v\u1edbi \u00fd ki\u1ebfn t\u01b0\u01a1ng \u0111\u1ed1i chia r\u1ebd d\u1ef1a tr\u00ean c\u00e1c \u0111\u00e1nh gi\u00e1 kh\u00e1c nhau v\u1ec1 ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng v\u00e0 kh\u1ea3 n\u0103ng c\u1ea1nh tranh c\u1ee7a c\u00f4ng ty.\n<div class=\"table-container\">\n<table border=\"1\">\n<thead>\n<tr>\n<th>Ph\u00e2n B\u1ed1 X\u1ebfp H\u1ea1ng Nh\u00e0 Ph\u00e2n T\u00edch<\/th>\n<th>T\u1ef7 L\u1ec7 (Nh\u00e0 Ph\u00e2n T\u00edch)<\/th>\n<th>M\u1ee5c Ti\u00eau Gi\u00e1 Trung B\u00ecnh<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Mua M\u1ea1nh<\/td>\n<td>37% (14)<\/td>\n<td>132 USD<\/td>\n<\/tr>\n<tr>\n<td>Mua<\/td>\n<td>42% (16)<\/td>\n<td>125 USD<\/td>\n<\/tr>\n<tr>\n<td>Gi\u1eef<\/td>\n<td>18% (7)<\/td>\n<td>108 USD<\/td>\n<\/tr>\n<tr>\n<td>B\u00e1n<\/td>\n<td>3% (1)<\/td>\n<td>87 USD<\/td>\n<\/tr>\n<tr>\n<td>B\u00e1n M\u1ea1nh<\/td>\n<td>0% (0)<\/td>\n<td>N\/A<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\nTi\u1ebfn s\u0129 Miranda Chen, Nh\u00e0 Ph\u00e2n T\u00edch C\u00f4ng Ngh\u1ec7 Tr\u01b0\u1edfng t\u1ea1i Vi\u1ec7n Nghi\u00ean C\u1ee9u V\u1ed1n v\u1edbi 22 n\u0103m kinh nghi\u1ec7m trong l\u0129nh v\u1ef1c ph\u1ea7n c\u1ee9ng doanh nghi\u1ec7p, \u0111\u01b0a ra \u0111\u00e1nh gi\u00e1 n\u00e0y: \"Dell chi\u1ebfm v\u1ecb tr\u00ed chi\u1ebfn l\u01b0\u1ee3c trong h\u1ec7 sinh th\u00e1i c\u00f4ng ngh\u1ec7 - kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t nh\u00e0 cung c\u1ea5p ph\u1ea7n c\u1ee9ng truy\u1ec1n th\u1ed1ng m\u00e0 c\u0169ng kh\u00f4ng ch\u1ec9 t\u1eadp trung v\u00e0o \u0111\u1ed5i m\u1edbi ti\u00ean ti\u1ebfn. C\u00e1ch ti\u1ebfp c\u1eadn c\u00e2n b\u1eb1ng n\u00e0y cho ph\u00e9p c\u00f4ng ty t\u1eadn d\u1ee5ng 98,000 m\u1ed1i quan h\u1ec7 kh\u00e1ch h\u00e0ng doanh nghi\u1ec7p c\u1ee7a m\u00ecnh trong khi m\u1edf r\u1ed9ng m\u1ed9t c\u00e1ch c\u00f3 ph\u01b0\u01a1ng ph\u00e1p v\u00e0o c\u00e1c ph\u00e2n kh\u00fac t\u0103ng tr\u01b0\u1edfng cao h\u01a1n nh\u01b0 c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng AI, n\u01a1i doanh thu c\u1ee7a n\u00f3 \u0111ang t\u0103ng tr\u01b0\u1edfng 43% h\u00e0ng n\u0103m.\"\n\nPh\u00e2n t\u00edch c\u1ee7a Ti\u1ebfn s\u0129 Chen ph\u00f9 h\u1ee3p v\u1edbi c\u00e1c ch\u1ec9 s\u1ed1 t\u00e2m l\u00fd \u0111\u1ed9c quy\u1ec1n c\u1ee7a Pocket Option nh\u1ea5n m\u1ea1nh t\u1ef7 l\u1ec7 r\u1ee7i ro-ph\u1ea7n th\u01b0\u1edfng h\u1ea5p d\u1eabn c\u1ee7a Dell. \"\u0110\u1ecbnh gi\u00e1 c\u1ee7a c\u00f4ng ty \u1edf m\u1ee9c 0.78x doanh thu so v\u1edbi 1.95x c\u1ee7a ng\u00e0nh cung c\u1ea5p m\u1ee9c chi\u1ebft kh\u1ea5u 60% m\u1eb7c d\u00f9 c\u00f3 h\u1ed3 s\u01a1 bi\u00ean l\u1ee3i nhu\u1eadn t\u01b0\u01a1ng t\u1ef1,\" nh\u00e0 ph\u00e2n t\u00edch c\u00f4ng ngh\u1ec7 k\u1ef3 c\u1ef1u James Wilson l\u01b0u \u00fd trong b\u00ecnh lu\u1eadn th\u1ecb tr\u01b0\u1eddng c\u1ee7a Pocket Option. \"Trong khi \u0111\u00f3, kho\u1ea3n \u0111\u1ea7u t\u01b0 4.5 t\u1ef7 USD c\u1ee7a Dell v\u00e0o kh\u1ea3 n\u0103ng AI v\u00e0 \u0111i\u1ec7n to\u00e1n bi\u00ean \u0111\u1ecbnh v\u1ecb n\u00f3 \u0111\u1ec3 chi\u1ebfm th\u1ecb ph\u1ea7n \u0111\u00e1ng k\u1ec3 trong c\u00e1c ph\u00e2n kh\u00fac t\u0103ng tr\u01b0\u1edfng 30-45% h\u00e0ng n\u0103m.\"\n\nC\u00e1c quan \u0111i\u1ec3m tr\u00e1i ng\u01b0\u1ee3c c\u0169ng \u0111\u00e1ng \u0111\u01b0\u1ee3c xem x\u00e9t. Nh\u00e0 ho\u00e0i nghi c\u00f4ng ngh\u1ec7 n\u1ed5i ti\u1ebfng William Riordan \u0111\u1eb7t c\u00e2u h\u1ecfi v\u1ec1 kh\u1ea3 n\u0103ng c\u1ee7a Dell trong vi\u1ec7c chuy\u1ec3n \u0111\u1ed5i th\u00e0nh c\u00f4ng t\u1eeb g\u1ed1c r\u1ec5 ph\u1ea7n c\u1ee9ng c\u1ee7a m\u00ecnh sang m\u00f4 h\u00ecnh ph\u1ea7n m\u1ec1m v\u00e0 d\u1ecbch v\u1ee5 m\u00e0 y\u00eau c\u1ea7u \u0111\u1ecbnh gi\u00e1 cao c\u1ea5p. \"Dell ch\u1ec9 t\u1ea1o ra 23% doanh thu t\u1eeb c\u00e1c d\u1ecbch v\u1ee5 \u0111\u1ecbnh k\u1ef3 so v\u1edbi 67% c\u1ee7a IBM v\u00e0 78% c\u1ee7a Microsoft,\" Riordan l\u1eadp lu\u1eadn. \"S\u1ef1 kh\u00e1c bi\u1ec7t c\u1ea5u tr\u00fac n\u00e0y gi\u1ea3i th\u00edch ph\u1ea7n l\u1edbn kho\u1ea3ng c\u00e1ch \u0111\u1ecbnh gi\u00e1, v\u00e0 t\u1ed1c \u0111\u1ed9 chuy\u1ec3n \u0111\u1ed5i c\u1ee7a Dell v\u1eabn ch\u01b0a \u0111\u1ee7 \u0111\u1ec3 bi\u1ec7n minh cho s\u1ef1 m\u1edf r\u1ed9ng b\u1ed9i s\u1ed1.\"\n\n[cta_button text=\"B\u1eaft \u0110\u1ea7u Giao D\u1ecbch\"]\n<h2>K\u1ebft Lu\u1eadn: \u0110\u01b0a Ra Quy\u1ebft \u0110\u1ecbnh \u0110\u1ea7u T\u01b0 Th\u00f4ng Minh<\/h2>\nX\u00e1c \u0111\u1ecbnh li\u1ec7u c\u1ed5 phi\u1ebfu Dell c\u00f3 ph\u1ea3i l\u00e0 m\u1ed9t l\u1ef1a ch\u1ecdn t\u1ed1t \u0111\u1ec3 mua \u0111\u00f2i h\u1ecfi t\u00edch h\u1ee3p nhi\u1ec1u chi\u1ec1u ph\u00e2n t\u00edch v\u1edbi c\u00e1c m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0 c\u1ee5 th\u1ec3 c\u1ee7a b\u1ea1n. S\u1ef1 k\u1ebft h\u1ee3p c\u1ee7a c\u00e1c d\u00f2ng kinh doanh \u0111\u00e3 \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp c\u1ee7a c\u00f4ng ty t\u1ea1o ra 9.3 t\u1ef7 USD d\u00f2ng ti\u1ec1n h\u00e0ng n\u0103m c\u00f9ng v\u1edbi c\u00e1c s\u00e1ng ki\u1ebfn c\u00f4ng ngh\u1ec7 m\u1edbi n\u1ed5i t\u0103ng tr\u01b0\u1edfng 25-45% t\u1ea1o ra m\u1ed9t tr\u01b0\u1eddng h\u1ee3p \u0111\u1ea7u t\u01b0 ph\u1ee9c t\u1ea1p nh\u01b0ng c\u00f3 th\u1ec3 mang l\u1ea1i l\u1ee3i nhu\u1eadn.\n\nN\u1ec1n t\u1ea3ng t\u00e0i ch\u00ednh c\u1ee7a Dell cung c\u1ea5p s\u1ef1 \u1ed5n \u0111\u1ecbnh kh\u00f4ng th\u1ec3 ph\u1ee7 nh\u1eadn v\u1edbi l\u1ee3i su\u1ea5t d\u00f2ng ti\u1ec1n t\u1ef1 do 10.6%, bi\u00ean l\u1ee3i nhu\u1eadn ho\u1ea1t \u0111\u1ed9ng c\u1ea3i thi\u1ec7n (t\u1eeb 6.7% l\u00ean 9.2% trong t\u00e1m qu\u00fd), v\u00e0 gi\u1ea3m n\u1ee3 25 t\u1ef7 USD k\u1ec3 t\u1eeb khi mua l\u1ea1i EMC. S\u1ee9c m\u1ea1nh t\u00e0i ch\u00ednh n\u00e0y cung c\u1ea5p s\u1ef1 b\u1ea3o v\u1ec7 \u0111\u00e1ng k\u1ec3 trong th\u1eddi k\u1ef3 bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng. \u0110\u1ed3ng th\u1eddi, c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 chi\u1ebfn l\u01b0\u1ee3c v\u00e0o \u0111i\u1ec7n to\u00e1n bi\u00ean, c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng AI, v\u00e0 d\u1ecbch v\u1ee5 qu\u1ea3n l\u00fd \u0111\u00e1m m\u00e2y mang l\u1ea1i ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng h\u1ea5p d\u1eabn v\u1edbi y\u00eau c\u1ea7u v\u1ed1n b\u1ed5 sung t\u1ed1i thi\u1ec3u.\n\n\u0110\u1ecbnh gi\u00e1 hi\u1ec7n t\u1ea1i tr\u00ecnh b\u00e0y m\u1ed9t c\u01a1 h\u1ed9i th\u00fa v\u1ecb - giao d\u1ecbch \u1edf m\u1ee9c cao h\u01a1n 12.8% so v\u1edbi m\u1ee9c trung b\u00ecnh l\u1ecbch s\u1eed c\u1ee7a Dell nh\u01b0ng duy tr\u00ec m\u1ee9c chi\u1ebft kh\u1ea5u \u0111\u00e1ng k\u1ec3 28.3% so v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 ng\u00e0nh. \u0110\u1ed9ng l\u1ef1c \u0111\u1ecbnh gi\u00e1 n\u00e0y cho th\u1ea5y th\u1ecb tr\u01b0\u1eddng \u0111\u00e3 b\u1eaft \u0111\u1ea7u nh\u1eadn ra s\u1ef1 chuy\u1ec3n \u0111\u1ed5i c\u1ee7a Dell nh\u01b0ng v\u1eabn ho\u00e0i nghi v\u1ec1 qu\u1ef9 \u0111\u1ea1o v\u00e0 quy m\u00f4 cu\u1ed1i c\u00f9ng c\u1ee7a n\u00f3. \u0110i\u1ec1u n\u00e0y t\u1ea1o ra c\u01a1 h\u1ed9i ti\u1ec1m n\u0103ng cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u00e1t tri\u1ec3n ni\u1ec1m tin v\u00e0o kh\u1ea3 n\u0103ng th\u1ef1c thi c\u1ee7a Dell trong c\u00e1c ph\u00e2n kh\u00fac t\u0103ng tr\u01b0\u1edfng cao.\n\n\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00ecm ki\u1ebfm s\u1ef1 ti\u1ebfp x\u00fac c\u00f4ng ngh\u1ec7 v\u1edbi \u0111\u1ed9 bi\u1ebfn \u0111\u1ed9ng v\u1eeba ph\u1ea3i (beta 1.21) v\u00e0 r\u1ee7i ro \u0111\u1ecbnh gi\u00e1 h\u1ee3p l\u00fd (P\/E d\u1ef1 ph\u00f3ng 11.8x), Dell x\u1ee9ng \u0111\u00e1ng \u0111\u01b0\u1ee3c xem x\u00e9t nghi\u00eam t\u00fac. C\u00e1c m\u1ed1i quan h\u1ec7 doanh nghi\u1ec7p \u0111\u00e3 \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp c\u1ee7a c\u00f4ng ty tr\u1ea3i d\u00e0i 98% c\u00e1c c\u00f4ng ty Fortune 500, c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh c\u1ea3i thi\u1ec7n (ROIC t\u0103ng t\u1eeb 9.7% l\u00ean 13.1%), v\u00e0 v\u1ecb tr\u00ed chi\u1ebfn l\u01b0\u1ee3c trong c\u00e1c ph\u00e2n kh\u00fac c\u00f4ng ngh\u1ec7 t\u0103ng tr\u01b0\u1edfng 30-45% t\u1ea1o ra m\u1ed9t h\u1ed3 s\u01a1 r\u1ee7i ro-ph\u1ea7n th\u01b0\u1edfng h\u1ea5p d\u1eabn cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1eddi gian \u0111\u1ea7u t\u01b0 t\u1eeb 2-5 n\u0103m.\n\nPocket Option cung c\u1ea5p c\u00e1c c\u00f4ng c\u1ee5 s\u00e0ng l\u1ecdc tinh vi, ph\u00e2n t\u00edch t\u01b0\u01a1ng quan, v\u00e0 kh\u1ea3 n\u0103ng m\u00f4 h\u00ecnh DCF c\u00f3 th\u1ec3 gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1m s\u00e1t ti\u1ebfn tr\u00ecnh c\u1ee7a Dell so v\u1edbi c\u00e1c ch\u1ec9 s\u1ed1 hi\u1ec7u su\u1ea5t ch\u00ednh, x\u00e1c \u0111\u1ecbnh c\u00e1c \u0111i\u1ec3m v\u00e0o k\u1ef9 thu\u1eadt khi t\u1ef7 l\u1ec7 r\u1ee7i ro-ph\u1ea7n th\u01b0\u1edfng l\u00e0 thu\u1eadn l\u1ee3i nh\u1ea5t, v\u00e0 t\u1ed1i \u01b0u h\u00f3a ph\u00e2n b\u1ed5 danh m\u1ee5c d\u1ef1a tr\u00ean c\u00e1c hi\u1ec7u \u1ee9ng t\u01b0\u01a1ng quan. B\u1eb1ng c\u00e1ch t\u1eadn d\u1ee5ng c\u00e1c ngu\u1ed3n l\u1ef1c ph\u00e2n t\u00edch n\u00e0y c\u00f9ng v\u1edbi nghi\u00ean c\u1ee9u c\u01a1 b\u1ea3n, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh d\u1ef1a tr\u00ean d\u1eef li\u1ec7u v\u1ec1 vi\u1ec7c li\u1ec7u Dell c\u00f3 ph\u00f9 h\u1ee3p v\u1edbi c\u00e1c m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0 c\u1ee5 th\u1ec3 v\u00e0 c\u00e1c th\u00f4ng s\u1ed1 r\u1ee7i ro c\u1ee7a h\u1ecd hay kh\u00f4ng.\n\n<\/div>","body_html_source":{"label":"Body HTML","type":"wysiwyg","formatted_value":"<div class=\"custom-html-container\">\n<h2>Ph\u00e2n T\u00edch V\u1ecb Th\u1ebf Th\u1ecb Tr\u01b0\u1eddng v\u00e0 S\u1ee9c Kh\u1ecfe T\u00e0i Ch\u00ednh c\u1ee7a Dell<\/h2>\n<p>Khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 h\u1ecfi &#8220;c\u00f3 n\u00ean mua c\u1ed5 phi\u1ebfu Dell kh\u00f4ng,&#8221; h\u1ecd \u0111ang b\u01b0\u1edbc v\u00e0o m\u1ed9t \u0111\u00e1nh gi\u00e1 ph\u1ee9c t\u1ea1p \u0111\u00f2i h\u1ecfi ph\u1ea3i xem x\u00e9t nhi\u1ec1u y\u1ebfu t\u1ed1. Dell Technologies \u0111\u00e3 thay \u0111\u1ed5i \u0111\u00e1ng k\u1ec3 k\u1ec3 t\u1eeb n\u0103m 1984, t\u1eeb m\u1ed9t nh\u00e0 s\u1ea3n xu\u1ea5t PC tr\u1edf th\u00e0nh m\u1ed9t t\u1eadp \u0111o\u00e0n gi\u1ea3i ph\u00e1p c\u00f4ng ngh\u1ec7 \u0111a d\u1ea1ng. H\u00e0nh tr\u00ecnh c\u1ee7a n\u00f3 qua c\u00e1c \u0111\u1ee3t ph\u00e1t h\u00e0nh c\u00f4ng khai, t\u01b0 nh\u00e2n h\u00f3a v\u00e0 tr\u1edf l\u1ea1i th\u1ecb tr\u01b0\u1eddng c\u00f4ng khai cung c\u1ea5p m\u1ed9t nghi\u00ean c\u1ee9u tr\u01b0\u1eddng h\u1ee3p h\u1ea5p d\u1eabn v\u1ec1 s\u1ef1 ti\u1ebfn h\u00f3a v\u00e0 th\u00edch \u1ee9ng c\u1ee7a doanh nghi\u1ec7p.<\/p>\n<p>V\u1ecb th\u1ebf th\u1ecb tr\u01b0\u1eddng hi\u1ec7n t\u1ea1i c\u1ee7a Dell tr\u1ea3i d\u00e0i t\u1eeb c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng doanh nghi\u1ec7p (43% doanh thu), gi\u1ea3i ph\u00e1p kh\u00e1ch h\u00e0ng (55%), v\u00e0 d\u1ecbch v\u1ee5 \u0111\u00e1m m\u00e2y (2%) &#8211; t\u1ea1o ra m\u1ed9t d\u00f2ng doanh thu \u0111a d\u1ea1ng b\u1ea3o v\u1ec7 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u1ecfi suy tho\u00e1i c\u1ee5 th\u1ec3 c\u1ee7a ng\u00e0nh. S\u1ef1 \u1ed5n \u0111\u1ecbnh c\u1ee7a c\u00f4ng ty \u0111\u1ebfn t\u1eeb c\u00e1c h\u1ee3p \u0111\u1ed3ng kinh doanh v\u00e0 ch\u00ednh ph\u1ee7 \u0111\u00e3 \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp, cung c\u1ea5p d\u00f2ng ti\u1ec1n d\u1ef1 \u0111o\u00e1n \u0111\u01b0\u1ee3c ngay c\u1ea3 trong th\u1eddi k\u1ef3 kinh t\u1ebf kh\u00f3 kh\u0103n.<\/p>\n<div class=\"table-container\">\n<table border=\"1\">\n<thead>\n<tr>\n<th>Ph\u00e2n Kh\u00fac Kinh Doanh c\u1ee7a Dell<\/th>\n<th>\u0110\u00f3ng G\u00f3p Doanh Thu<\/th>\n<th>Qu\u1ef9 \u0110\u1ea1o T\u0103ng Tr\u01b0\u1edfng<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Nh\u00f3m Gi\u1ea3i Ph\u00e1p H\u1ea1 T\u1ea7ng<\/td>\n<td>43%<\/td>\n<td>7-9% CAGR v\u1edbi ti\u1ec1m n\u0103ng m\u1edf r\u1ed9ng \u0111\u00e1m m\u00e2y<\/td>\n<\/tr>\n<tr>\n<td>Nh\u00f3m Gi\u1ea3i Ph\u00e1p Kh\u00e1ch H\u00e0ng<\/td>\n<td>55%<\/td>\n<td>3-5% CAGR v\u1edbi chu k\u1ef3 thay th\u1ebf<\/td>\n<\/tr>\n<tr>\n<td>C\u00e1c Doanh Nghi\u1ec7p Kh\u00e1c<\/td>\n<td>2%<\/td>\n<td>15-20% CAGR v\u1edbi tr\u1ecdng t\u00e2m c\u00f4ng ngh\u1ec7 m\u1edbi n\u1ed5i<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Ph\u00e2n t\u00edch t\u00e0i ch\u00ednh ti\u1ebft l\u1ed9 hi\u1ec7u su\u1ea5t c\u1ea3i thi\u1ec7n c\u1ee7a Dell v\u1edbi bi\u00ean l\u1ee3i nhu\u1eadn ho\u1ea1t \u0111\u1ed9ng t\u0103ng t\u1eeb 6.7% l\u00ean 9.2% trong t\u00e1m qu\u00fd qua. K\u1ec3 t\u1eeb khi mua l\u1ea1i EMC tr\u1ecb gi\u00e1 67 t\u1ef7 USD, Dell \u0111\u00e3 gi\u1ea3m n\u1ee3 25 t\u1ef7 USD trong khi duy tr\u00ec d\u00f2ng ti\u1ec1n ho\u1ea1t \u0111\u1ed9ng 9.3 t\u1ef7 USD h\u00e0ng n\u0103m &#8211; m\u1ed9t ch\u1ec9 s\u1ed1 t\u00edch c\u1ef1c quan tr\u1ecdng khi \u0111\u00e1nh gi\u00e1 li\u1ec7u Dell c\u00f3 ph\u1ea3i l\u00e0 m\u1ed9t c\u1ed5 phi\u1ebfu t\u1ed1t \u0111\u1ec3 mua hay kh\u00f4ng.<\/p>\n<h3>L\u1ee3i Th\u1ebf C\u1ea1nh Tranh Trong H\u1ec7 Sinh Th\u00e1i C\u00f4ng Ngh\u1ec7<\/h3>\n<p>L\u1ee3i th\u1ebf c\u1ea1nh tranh c\u1ee7a Dell b\u1eaft ngu\u1ed3n t\u1eeb m\u1ed9t s\u1ed1 l\u1ee3i th\u1ebf c\u00f3 th\u1ec3 \u0111\u1ecbnh l\u01b0\u1ee3ng \u0111\u01b0\u1ee3c. M\u00f4 h\u00ecnh tr\u1ef1c ti\u1ebfp \u0111\u1ebfn ng\u01b0\u1eddi ti\u00eau d\u00f9ng c\u1ee7a n\u00f3 mang l\u1ea1i bi\u00ean l\u1ee3i nhu\u1eadn cao h\u01a1n 2-3% so v\u1edbi c\u00e1c m\u00f4 h\u00ecnh c\u1ea1nh tranh trong khi c\u00e1c gi\u1ea3i ph\u00e1p doanh nghi\u1ec7p c\u1ee7a n\u00f3 t\u00edch h\u1ee3p ph\u1ea7n c\u1ee9ng, ph\u1ea7n m\u1ec1m v\u00e0 d\u1ecbch v\u1ee5 theo c\u00e1ch \u00edt \u0111\u1ed1i th\u1ee7 n\u00e0o c\u00f3 th\u1ec3 s\u00e1nh k\u1ecbp \u1edf quy m\u00f4 doanh thu 94 t\u1ef7 USD c\u1ee7a Dell.<\/p>\n<ul>\n<li>C\u00e1c m\u1ed1i quan h\u1ec7 doanh nghi\u1ec7p tr\u1ea3i d\u00e0i 98% c\u00e1c c\u00f4ng ty Fortune 500<\/li>\n<li>T\u00edch h\u1ee3p d\u1ecdc cho ph\u00e9p gi\u1ea3m 15% chi ph\u00ed th\u00e0nh ph\u1ea7n<\/li>\n<li>Quan h\u1ec7 \u0111\u1ed1i t\u00e1c chi\u1ebfn l\u01b0\u1ee3c v\u1edbi 7 trong s\u1ed1 10 nh\u00e0 cung c\u1ea5p ph\u1ea7n m\u1ec1m h\u00e0ng \u0111\u1ea7u<\/li>\n<li>Nh\u1eadn di\u1ec7n th\u01b0\u01a1ng hi\u1ec7u 96% t\u1ea1i th\u1ecb tr\u01b0\u1eddng B\u1eafc M\u1ef9 v\u00e0 Ch\u00e2u \u00c2u<\/li>\n<li>\u0110a d\u1ea1ng h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0 gi\u1ea3m b\u1ea5t k\u1ef3 ph\u00e2n kh\u00fac n\u00e0o xu\u1ed1ng d\u01b0\u1edbi 60% doanh thu<\/li>\n<\/ul>\n<p>C\u00e1c nh\u00e0 giao d\u1ecbch chuy\u00ean nghi\u1ec7p s\u1eed d\u1ee5ng c\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch ti\u00ean ti\u1ebfn c\u1ee7a Pocket Option \u0111\u00e3 x\u00e1c \u0111\u1ecbnh kh\u1ea3 n\u0103ng ph\u1ee5c h\u1ed3i c\u1ee7a Dell trong th\u1eddi k\u1ef3 suy tho\u00e1i th\u1ecb tr\u01b0\u1eddng l\u00e0 \u0111\u1eb7c bi\u1ec7t c\u00f3 gi\u00e1 tr\u1ecb &#8211; c\u1ed5 phi\u1ebfu gi\u1ea3m 22% trong \u0111\u1ee3t b\u00e1n th\u00e1o c\u00f4ng ngh\u1ec7 n\u0103m 2022 so v\u1edbi 37% c\u1ee7a to\u00e0n ng\u00e0nh c\u00f4ng ngh\u1ec7. \u0110\u1eb7c \u0111i\u1ec3m ph\u00f2ng th\u1ee7 n\u00e0y k\u1ebft h\u1ee3p v\u1edbi t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng h\u00e0ng n\u0103m k\u00e9p 12% k\u1ec3 t\u1eeb n\u0103m 2018 t\u1ea1o ra m\u1ed9t h\u1ed3 s\u01a1 r\u1ee7i ro-ph\u1ea7n th\u01b0\u1edfng h\u1ea5p d\u1eabn cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nghi\u00eam t\u00fac.<\/p>\n<h2>Hi\u1ec7u Su\u1ea5t L\u1ecbch S\u1eed v\u00e0 L\u1ee3i Nhu\u1eadn \u0110\u1ea7u T\u01b0<\/h2>\n<p>Khi \u0111\u00e1nh gi\u00e1 li\u1ec7u c\u00f3 n\u00ean mua c\u1ed5 phi\u1ebfu Dell kh\u00f4ng, hi\u1ec7u su\u1ea5t l\u1ecbch s\u1eed cung c\u1ea5p b\u1ed1i c\u1ea3nh thi\u1ebft y\u1ebfu. K\u1ec3 t\u1eeb khi tr\u1edf l\u1ea1i th\u1ecb tr\u01b0\u1eddng c\u00f4ng khai v\u00e0o th\u00e1ng 12 n\u0103m 2018, Dell \u0111\u00e3 mang l\u1ea1i l\u1ee3i nhu\u1eadn th\u01b0\u1eddng xuy\u00ean v\u01b0\u1ee3t qua c\u1ea3 ch\u1ec9 s\u1ed1 S&#038;P 500 v\u00e0 c\u00e1c ti\u00eau chu\u1ea9n ng\u00e0nh c\u00f4ng ngh\u1ec7.<\/p>\n<div class=\"table-container\">\n<table border=\"1\">\n<thead>\n<tr>\n<th>Giai \u0110o\u1ea1n Hi\u1ec7u Su\u1ea5t<\/th>\n<th>L\u1ee3i Nhu\u1eadn C\u1ed5 Phi\u1ebfu Dell<\/th>\n<th>L\u1ee3i Nhu\u1eadn S&amp;P 500<\/th>\n<th>L\u1ee3i Nhu\u1eadn Ng\u00e0nh C\u00f4ng Ngh\u1ec7<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1 N\u0103m<\/td>\n<td>+27.8%<\/td>\n<td>+18.2%<\/td>\n<td>+22.5%<\/td>\n<\/tr>\n<tr>\n<td>3 N\u0103m<\/td>\n<td>+112.3%<\/td>\n<td>+56.7%<\/td>\n<td>+89.1%<\/td>\n<\/tr>\n<tr>\n<td>5 N\u0103m<\/td>\n<td>+179.6%<\/td>\n<td>+87.9%<\/td>\n<td>+172.4%<\/td>\n<\/tr>\n<tr>\n<td>K\u1ec3 T\u1eeb Khi Ni\u00eam Y\u1ebft L\u1ea1i N\u0103m 2018<\/td>\n<td>+215.4%<\/td>\n<td>+94.6%<\/td>\n<td>+183.5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Nh\u00e0 \u0111\u1ea7u t\u01b0 Martin Reynolds minh h\u1ecda ti\u1ec1m n\u0103ng hi\u1ec7u su\u1ea5t n\u00e0y. Reynolds \u0111\u00e3 ph\u00e2n b\u1ed5 75,000 USD (5% danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a m\u00ecnh) v\u00e0o c\u1ed5 phi\u1ebfu Dell v\u00e0o th\u00e1ng 3 n\u0103m 2019 sau khi th\u1ef1c hi\u1ec7n ph\u00e2n t\u00edch c\u01a1 b\u1ea3n b\u1eb1ng c\u00e1ch s\u1eed d\u1ee5ng c\u00e1c k\u1ef9 thu\u1eadt t\u1eeb c\u00e1c t\u00e0i nguy\u00ean gi\u00e1o d\u1ee5c c\u1ee7a Pocket Option. Kho\u1ea3n \u0111\u1ea7u t\u01b0 c\u1ee7a \u00f4ng \u0111\u00e3 t\u0103ng l\u00ean 138,750 USD, v\u01b0\u1ee3t tr\u1ed9i h\u01a1n ph\u00e2n b\u1ed5 c\u00f4ng ngh\u1ec7 r\u1ed9ng h\u01a1n c\u1ee7a \u00f4ng 35% m\u1eb7c d\u00f9 s\u1ef1 s\u1ee5p \u0111\u1ed5 \u0111\u1ea1i d\u1ecbch n\u0103m 2020 v\u00e0 \u0111\u1ee3t b\u00e1n th\u00e1o c\u00f4ng ngh\u1ec7 n\u0103m 2022.<\/p>\n<p>&#8220;\u0110i\u1ec1u thu h\u00fat t\u00f4i \u0111\u1ebfn v\u1edbi Dell kh\u00f4ng ch\u1ec9 l\u00e0 t\u00ean tu\u1ed5i quen thu\u1ed9c c\u1ee7a n\u00f3,&#8221; Reynolds gi\u1ea3i th\u00edch trong m\u1ed9t di\u1ec5n \u0111\u00e0n \u0111\u1ea7u t\u01b0 g\u1ea7n \u0111\u00e2y. &#8220;\u0110\u00f3 l\u00e0 s\u1ef1 k\u1ebft h\u1ee3p c\u1ee7a 9.3 t\u1ef7 USD d\u00f2ng ti\u1ec1n h\u00e0ng n\u0103m t\u1eeb c\u00e1c d\u00f2ng kinh doanh \u0111\u00e3 \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp c\u00f9ng v\u1edbi c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 c\u00f3 m\u1ee5c ti\u00eau v\u00e0o \u0111i\u1ec7n to\u00e1n bi\u00ean v\u00e0 c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng AI v\u1edbi t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng tr\u00ean 25%.&#8221;<\/p>\n<h3>C\u00e2n Nh\u1eafc C\u1ed5 T\u1ee9c cho Nh\u00e0 \u0110\u1ea7u T\u01b0 Thu Nh\u1eadp<\/h3>\n<p>Dell \u0111\u00e3 kh\u1edfi \u0111\u1ed9ng c\u1ed5 t\u1ee9c h\u00e0ng qu\u00fd v\u00e0o th\u00e1ng 2 n\u0103m 2022, th\u00eam m\u1ed9t th\u00e0nh ph\u1ea7n thu nh\u1eadp \u0111\u00e3 thu h\u00fat c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1eadp trung v\u00e0o gi\u00e1 tr\u1ecb v\u00e0 thu nh\u1eadp. M\u1eb7c d\u00f9 l\u1ee3i su\u1ea5t 1.8% v\u1eabn khi\u00eam t\u1ed1n so v\u1edbi c\u00e1c qu\u00fd t\u1ed9c c\u1ed5 t\u1ee9c truy\u1ec1n th\u1ed1ng, t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng c\u1ed5 t\u1ee9c 12% c\u1ee7a Dell b\u00e1o hi\u1ec7u s\u1ef1 t\u1ef1 tin c\u1ee7a ban qu\u1ea3n l\u00fd v\u00e0o kh\u1ea3 n\u0103ng t\u1ea1o ra ti\u1ec1n m\u1eb7t b\u1ec1n v\u1eefng.<\/p>\n<div class=\"table-container\">\n<table border=\"1\">\n<thead>\n<tr>\n<th>Ch\u1ec9 S\u1ed1 C\u1ed5 T\u1ee9c<\/th>\n<th>Dell<\/th>\n<th>Trung B\u00ecnh Ng\u00e0nh C\u00f4ng Ngh\u1ec7<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>L\u1ee3i Su\u1ea5t C\u1ed5 T\u1ee9c Hi\u1ec7n T\u1ea1i<\/td>\n<td>1.8%<\/td>\n<td>1.3%<\/td>\n<\/tr>\n<tr>\n<td>T\u1ef7 L\u1ec7 T\u0103ng Tr\u01b0\u1edfng C\u1ed5 T\u1ee9c (H\u00e0ng N\u0103m)<\/td>\n<td>12%<\/td>\n<td>8%<\/td>\n<\/tr>\n<tr>\n<td>T\u1ef7 L\u1ec7 Chi Tr\u1ea3<\/td>\n<td>26%<\/td>\n<td>32%<\/td>\n<\/tr>\n<tr>\n<td>Kh\u1ea3 N\u0103ng Chi Tr\u1ea3 B\u1eb1ng D\u00f2ng Ti\u1ec1n<\/td>\n<td>3.7x<\/td>\n<td>3.2x<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>T\u1ef7 l\u1ec7 chi tr\u1ea3 th\u1ea5p 26% cung c\u1ea5p kh\u00f4ng gian \u0111\u00e1ng k\u1ec3 cho c\u00e1c \u0111\u1ee3t t\u0103ng c\u1ed5 t\u1ee9c trong t\u01b0\u01a1ng lai trong khi cho ph\u00e9p ti\u1ebfp t\u1ee5c \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c s\u00e1ng ki\u1ebfn t\u0103ng tr\u01b0\u1edfng &#8211; m\u1ed9t s\u1ef1 c\u00e2n b\u1eb1ng m\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 tinh vi s\u1eed d\u1ee5ng c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch c\u1ed5 t\u1ee9c c\u1ee7a Pocket Option \u0111\u00e3 x\u00e1c \u0111\u1ecbnh l\u00e0 t\u1ed1i \u01b0u cho vi\u1ec7c x\u00e2y d\u1ef1ng t\u00e0i s\u1ea3n d\u00e0i h\u1ea1n. Vi\u1ec7c kh\u1edfi \u0111\u1ed9ng c\u1ed5 t\u1ee9c c\u1ee7a Dell \u0111\u00e3 m\u1edf r\u1ed9ng c\u01a1 s\u1edf nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ee7a n\u00f3 kho\u1ea3ng 14%, theo d\u1eef li\u1ec7u s\u1edf h\u1eefu t\u1ed5 ch\u1ee9c.<\/p>\n<h2>Ch\u1ea5t X\u00fac T\u00e1c T\u0103ng Tr\u01b0\u1edfng v\u00e0 Tri\u1ec3n V\u1ecdng T\u01b0\u01a1ng Lai<\/h2>\n<p>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1eb7t c\u00e2u h\u1ecfi li\u1ec7u c\u1ed5 phi\u1ebfu Dell c\u00f3 ph\u1ea3i l\u00e0 m\u1ed9t l\u1ef1a ch\u1ecdn t\u1ed1t, ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng trong t\u01b0\u01a1ng lai v\u1eabn l\u00e0 y\u1ebfu t\u1ed1 quy\u1ebft \u0111\u1ecbnh. Dell \u0111\u00e3 \u0111\u1ecbnh v\u1ecb chi\u1ebfn l\u01b0\u1ee3c trong c\u00e1c ph\u00e2n kh\u00fac c\u00f4ng ngh\u1ec7 t\u0103ng tr\u01b0\u1edfng cao v\u1edbi \u0111\u01b0\u1eddng b\u0103ng m\u1edf r\u1ed9ng \u0111\u00e1ng k\u1ec3 v\u00e0 c\u1ea1nh tranh h\u1ea1n ch\u1ebf.<\/p>\n<p>Kho\u1ea3n \u0111\u1ea7u t\u01b0 1.2 t\u1ef7 USD c\u1ee7a c\u00f4ng ty v\u00e0o c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng \u0111i\u1ec7n to\u00e1n bi\u00ean \u0111\u1ea1i di\u1ec7n cho vector t\u0103ng tr\u01b0\u1edfng h\u1ee9a h\u1eb9n nh\u1ea5t c\u1ee7a n\u00f3. Khi c\u00e1c t\u1ed5 ch\u1ee9c x\u1eed l\u00fd d\u1eef li\u1ec7u g\u1ea7n ngu\u1ed3n h\u01a1n thay v\u00ec trong c\u00e1c trung t\u00e2m d\u1eef li\u1ec7u t\u1eadp trung, c\u00e1c gi\u1ea3i ph\u00e1p bi\u00ean \u0111\u01b0\u1ee3c x\u00e2y d\u1ef1ng c\u00f3 m\u1ee5c \u0111\u00edch c\u1ee7a Dell \u0111\u00e3 ch\u1ee9ng ki\u1ebfn t\u1ef7 l\u1ec7 ch\u1ea5p nh\u1eadn t\u0103ng 43% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc. C\u00f4ng ty nghi\u00ean c\u1ee9u th\u1ecb tr\u01b0\u1eddng IDC d\u1ef1 b\u00e1o th\u1ecb tr\u01b0\u1eddng \u0111i\u1ec7n to\u00e1n bi\u00ean s\u1ebd t\u0103ng tr\u01b0\u1edfng v\u1edbi CAGR 37% \u0111\u1ebfn n\u0103m 2028, \u0111\u1ea1t 87 t\u1ef7 USD &#8211; t\u1ea1o ra c\u01a1 h\u1ed9i \u0111\u00e1ng k\u1ec3 cho c\u00e1c gi\u1ea3i ph\u00e1p hi\u1ec7n c\u00f3 v\u00e0 m\u1edbi n\u1ed5i c\u1ee7a Dell.<\/p>\n<ul>\n<li>C\u01a1 s\u1edf h\u1ea1 t\u1ea7ng AI d\u1ef1 ki\u1ebfn t\u0103ng tr\u01b0\u1edfng 45% h\u00e0ng n\u0103m \u0111\u1ebfn n\u0103m 2027<\/li>\n<li>Gi\u1ea3i ph\u00e1p \u0111i\u1ec7n to\u00e1n bi\u00ean m\u1edf r\u1ed9ng v\u1edbi CAGR 37%<\/li>\n<li>C\u00f4ng c\u1ee5 qu\u1ea3n l\u00fd \u0111a \u0111\u00e1m m\u00e2y t\u0103ng tr\u01b0\u1edfng 28% h\u00e0ng n\u0103m<\/li>\n<li>T\u00edch h\u1ee3p an ninh m\u1ea1ng t\u0103ng gi\u00e1 b\u00e1n s\u1ea3n ph\u1ea9m trung b\u00ecnh 12-18%<\/li>\n<li>D\u1ecbch v\u1ee5 \u0111\u0103ng k\u00fd th\u00fac \u0111\u1ea9y t\u0103ng tr\u01b0\u1edfng 23% trong doanh thu \u0111\u1ecbnh k\u1ef3<\/li>\n<\/ul>\n<p>Brightline Technologies, m\u1ed9t nh\u00e0 cung c\u1ea5p c\u00f4ng ngh\u1ec7 ch\u0103m s\u00f3c s\u1ee9c kh\u1ecfe v\u1edbi doanh thu h\u00e0ng n\u0103m 750 tri\u1ec7u USD, minh ch\u1ee9ng ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng c\u1ee7a Dell. Brightline \u0111\u00e3 tri\u1ec3n khai n\u1ec1n t\u1ea3ng \u0111i\u1ec7n to\u00e1n bi\u00ean PowerEdge XR4000 c\u1ee7a Dell t\u1ea1i 37 c\u01a1 s\u1edf y t\u1ebf, gi\u1ea3m \u0111\u1ed9 tr\u1ec5 x\u1eed l\u00fd h\u00ecnh \u1ea3nh t\u1eeb 1,200ms xu\u1ed1ng 264ms trong khi c\u1ea3i thi\u1ec7n tu\u00e2n th\u1ee7 HIPAA. Vi\u1ec7c tri\u1ec3n khai n\u00e0y t\u1ea1o ra 4.2 tri\u1ec7u USD ti\u1ebft ki\u1ec7m chi ph\u00ed h\u00e0ng n\u0103m so v\u1edbi c\u00e1c ph\u01b0\u01a1ng ph\u00e1p ch\u1ec9 s\u1eed d\u1ee5ng \u0111\u00e1m m\u00e2y, \u0111\u1ea1i di\u1ec7n cho ROI 213% trong ba n\u0103m trong khi c\u1ea3i thi\u1ec7n k\u1ebft qu\u1ea3 cho b\u1ec7nh nh\u00e2n.<\/p>\n<h3>Quan H\u1ec7 \u0110\u1ed1i T\u00e1c Chi\u1ebfn L\u01b0\u1ee3c T\u0103ng C\u01b0\u1eddng Ti\u1ec1m N\u0103ng T\u0103ng Tr\u01b0\u1edfng<\/h3>\n<p>C\u00e1c quan h\u1ec7 \u0111\u1ed1i t\u00e1c c\u1ee7a Dell v\u1edbi c\u00e1c nh\u00e0 l\u00e3nh \u0111\u1ea1o c\u00f4ng ngh\u1ec7 t\u1ea1o ra c\u00e1c c\u01a1 h\u1ed9i t\u0103ng tr\u01b0\u1edfng bi\u00ean l\u1ee3i nhu\u1eadn cao b\u1ed5 sung. Nh\u1eefng h\u1ee3p t\u00e1c n\u00e0y m\u1edf r\u1ed9ng kh\u1ea3 n\u0103ng c\u1ee7a Dell m\u00e0 kh\u00f4ng c\u1ea7n \u0111\u1ea7u t\u01b0 R&#038;D l\u1edbn, c\u1ea3i thi\u1ec7n l\u1ee3i nhu\u1eadn tr\u00ean v\u1ed1n \u0111\u1ea7u t\u01b0 3.2 \u0111i\u1ec3m ph\u1ea7n tr\u0103m trong hai n\u0103m qua.<\/p>\n<div class=\"table-container\">\n<table border=\"1\">\n<thead>\n<tr>\n<th>\u0110\u1ed1i T\u00e1c<\/th>\n<th>Tr\u1ecdng T\u00e2m H\u1ee3p T\u00e1c<\/th>\n<th>C\u01a1 H\u1ed9i Th\u1ecb Tr\u01b0\u1eddng<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>NVIDIA<\/td>\n<td>C\u01a1 s\u1edf h\u1ea1 t\u1ea7ng t\u1ed1i \u01b0u h\u00f3a AI<\/td>\n<td>93.5 t\u1ef7 USD v\u00e0o n\u0103m 2027<\/td>\n<\/tr>\n<tr>\n<td>Microsoft<\/td>\n<td>Gi\u1ea3i ph\u00e1p \u0111\u00e1m m\u00e2y lai<\/td>\n<td>148.8 t\u1ef7 USD v\u00e0o n\u0103m 2026<\/td>\n<\/tr>\n<tr>\n<td>VMware<\/td>\n<td>C\u01a1 s\u1edf h\u1ea1 t\u1ea7ng \u0111\u1ecbnh ngh\u0129a b\u1eb1ng ph\u1ea7n m\u1ec1m<\/td>\n<td>68.2 t\u1ef7 USD v\u00e0o n\u0103m 2025<\/td>\n<\/tr>\n<tr>\n<td>AWS<\/td>\n<td>Qu\u1ea3n l\u00fd \u0111a \u0111\u00e1m m\u00e2y<\/td>\n<td>107.1 t\u1ef7 USD v\u00e0o n\u0103m 2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>C\u00e1c nh\u00e0 ph\u00e2n t\u00edch t\u1ea1i Pocket Option \u0111\u00e3 nh\u1ea5n m\u1ea1nh nh\u1eefng quan h\u1ec7 \u0111\u1ed1i t\u00e1c n\u00e0y l\u00e0 t\u00e0i s\u1ea3n b\u1ecb \u0111\u00e1nh gi\u00e1 th\u1ea5p nh\u1ea5t c\u1ee7a Dell. Ch\u1ec9 ri\u00eang s\u1ef1 h\u1ee3p t\u00e1c v\u1edbi NVIDIA \u0111\u00e3 t\u1ea1o ra 1.7 t\u1ef7 USD doanh thu bi\u00ean l\u1ee3i nhu\u1eadn cao t\u1eeb c\u00e1c m\u00e1y ch\u1ee7 t\u1ed1i \u01b0u h\u00f3a AI. C\u00e1ch ti\u1ebfp c\u1eadn &#8220;\u01b0u ti\u00ean \u0111\u1ed1i t\u00e1c&#8221; c\u1ee7a Dell mang l\u1ea1i bi\u00ean l\u1ee3i nhu\u1eadn cao h\u01a1n 27% so v\u1edbi c\u00e1c gi\u1ea3i ph\u00e1p ph\u00e1t tri\u1ec3n n\u1ed9i b\u1ed9 trong khi t\u0103ng t\u1ed1c th\u1eddi gian ra th\u1ecb tr\u01b0\u1eddng 40% &#8211; m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c li\u00ean t\u1ee5c t\u1ea1o ra l\u1ee3i nhu\u1eadn v\u01b0\u1ee3t tr\u1ed9i tr\u00ean v\u1ed1n \u0111\u1ea7u t\u01b0.<\/p>\n<h2>\u0110\u00e1nh Gi\u00e1 R\u1ee7i Ro cho C\u00e1c Nh\u00e0 \u0110\u1ea7u T\u01b0 Ti\u1ec1m N\u0103ng<\/h2>\n<p>X\u00e1c \u0111\u1ecbnh li\u1ec7u Dell c\u00f3 ph\u1ea3i l\u00e0 m\u1ed9t c\u1ed5 phi\u1ebfu t\u1ed1t \u0111\u1ec3 mua \u0111\u00f2i h\u1ecfi \u0111\u00e1nh gi\u00e1 r\u1ee7i ro k\u1ef9 l\u01b0\u1ee1ng c\u00f9ng v\u1edbi tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng. Dell \u0111\u1ed1i m\u1eb7t v\u1edbi m\u1ed9t s\u1ed1 th\u00e1ch th\u1ee9c c\u00f3 th\u1ec3 \u0111\u1ecbnh l\u01b0\u1ee3ng m\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1eadn tr\u1ecdng ph\u1ea3i c\u00e2n nh\u1eafc tr\u01b0\u1edbc khi \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh ph\u00e2n b\u1ed5.<\/p>\n<p>T\u00ednh chu k\u1ef3 c\u1ee7a th\u1ecb tr\u01b0\u1eddng PC v\u1eabn l\u00e0 \u0111i\u1ec3m y\u1ebfu ch\u00ednh c\u1ee7a Dell. M\u1eb7c d\u00f9 \u0111\u00e3 gi\u1ea3m s\u1ef1 ph\u1ee5 thu\u1ed9c v\u00e0o PC ti\u00eau d\u00f9ng t\u1eeb 65% xu\u1ed1ng 37% doanh thu k\u1ec3 t\u1eeb n\u0103m 2013, ph\u00e2n kh\u00fac n\u00e0y v\u1eabn \u0111\u00f3ng g\u00f3p \u0111\u00e1ng k\u1ec3 v\u00e0o l\u1ee3i nhu\u1eadn. Khi chu k\u1ef3 thay th\u1ebf PC k\u00e9o d\u00e0i t\u1eeb 4.2 \u0111\u1ebfn 5.7 n\u0103m trong giai \u0111o\u1ea1n 2020-2022, doanh thu ti\u00eau d\u00f9ng c\u1ee7a Dell gi\u1ea3m 16%, minh h\u1ecda r\u1ee7i ro chu k\u1ef3 dai d\u1eb3ng c\u1ee7a ph\u00e2n kh\u00fac n\u00e0y.<\/p>\n<div class=\"table-container\">\n<table border=\"1\">\n<thead>\n<tr>\n<th>Y\u1ebfu T\u1ed1 R\u1ee7i Ro<\/th>\n<th>T\u00e1c \u0110\u1ed9ng Ti\u1ec1m N\u0103ng<\/th>\n<th>C\u00e2n Nh\u1eafc Gi\u1ea3m Thi\u1ec3u<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>T\u00ednh Chu K\u1ef3 Th\u1ecb Tr\u01b0\u1eddng PC<\/td>\n<td>Cao &#8211; 37% doanh thu b\u1ecb \u1ea3nh h\u01b0\u1edfng<\/td>\n<td>Ph\u00e2n kh\u00fac PC doanh nghi\u1ec7p t\u0103ng tr\u01b0\u1edfng 5.3% so v\u1edbi ti\u00eau d\u00f9ng 2.1%<\/td>\n<\/tr>\n<tr>\n<td>Gi\u00e1n \u0110o\u1ea1n Chu\u1ed7i Cung \u1ee8ng<\/td>\n<td>Trung B\u00ecnh &#8211; Tr\u00ec ho\u00e3n s\u1ea3n xu\u1ea5t 8-12 tu\u1ea7n trong c\u00e1c chu k\u1ef3 g\u1ea7n \u0111\u00e2y<\/td>\n<td>S\u1ea3n xu\u1ea5t t\u1ea1i 25 qu\u1ed1c gia v\u1edbi 73% d\u01b0 th\u1eeba th\u00e0nh ph\u1ea7n<\/td>\n<\/tr>\n<tr>\n<td>\u00c1p L\u1ef1c C\u1ea1nh Tranh<\/td>\n<td>Trung B\u00ecnh &#8211; R\u1ee7i ro n\u00e9n bi\u00ean l\u1ee3i nhu\u1eadn h\u00e0ng n\u0103m 0.5-0.7%<\/td>\n<td>L\u1ee3i th\u1ebf quy m\u00f4 v\u1edbi chi ph\u00ed th\u00e0nh ph\u1ea7n th\u1ea5p h\u01a1n 14% so v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 nh\u1ecf h\u01a1n<\/td>\n<\/tr>\n<tr>\n<td>R\u1ee7i Ro Chuy\u1ec3n \u0110\u1ed5i C\u00f4ng Ngh\u1ec7<\/td>\n<td>Trung B\u00ecnh &#8211; Ti\u1ec1m n\u0103ng t\u1ed5n th\u1ea5t doanh thu 7-9 t\u1ef7 USD<\/td>\n<td>\u0110\u1ea7u t\u01b0 R&#038;D h\u00e0ng n\u0103m 4.5 t\u1ef7 USD v\u00e0 21 th\u01b0\u01a1ng v\u1ee5 mua l\u1ea1i chi\u1ebfn l\u01b0\u1ee3c k\u1ec3 t\u1eeb n\u0103m 2018<\/td>\n<\/tr>\n<tr>\n<td>M\u1ee9c N\u1ee3<\/td>\n<td>Trung B\u00ecnh-Th\u1ea5p &#8211; N\u1ee3 c\u00f2n l\u1ea1i 18.1 t\u1ef7 USD<\/td>\n<td>Kh\u1ea3 n\u0103ng chi tr\u1ea3 b\u1eb1ng d\u00f2ng ti\u1ec1n 3.7x v\u00e0 k\u1ebf ho\u1ea1ch gi\u1ea3m n\u1ee3 h\u00e0ng n\u0103m 2.1 t\u1ef7 USD<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>C\u00e1c l\u1ed7 h\u1ed5ng chu\u1ed7i cung \u1ee9ng \u0111\u00e3 b\u1ecb ph\u01a1i b\u00e0y nhi\u1ec1u l\u1ea7n k\u1ec3 t\u1eeb n\u0103m 2020. M\u1eb7c d\u00f9 Dell qu\u1ea3n l\u00fd nh\u1eefng th\u00e1ch th\u1ee9c n\u00e0y t\u1ed1t h\u01a1n c\u00e1c \u0111\u1ed1i th\u1ee7 (94% ho\u00e0n th\u00e0nh \u0111\u01a1n h\u00e0ng so v\u1edbi m\u1ee9c trung b\u00ecnh ng\u00e0nh 87%), thi\u1ebfu h\u1ee5t th\u00e0nh ph\u1ea7n \u0111\u00e3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn bi\u00ean l\u1ee3i nhu\u1eadn g\u1ed9p 1.3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m trong c\u00e1c giai \u0111o\u1ea1n gi\u00e1n \u0111o\u1ea1n \u0111\u1ec9nh \u0111i\u1ec3m. M\u1ea1ng l\u01b0\u1edbi nh\u00e0 cung c\u1ea5p m\u1edf r\u1ed9ng c\u1ee7a Dell hi\u1ec7n bao g\u1ed3m 127 nh\u00e0 cung c\u1ea5p ch\u00ednh v\u00e0 215 nh\u00e0 cung c\u1ea5p d\u1ef1 ph\u00f2ng t\u1ea1i 25 qu\u1ed1c gia, c\u1ea3i thi\u1ec7n \u0111\u00e1ng k\u1ec3 kh\u1ea3 n\u0103ng ph\u1ee5c h\u1ed3i.<\/p>\n<p>C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1eed d\u1ee5ng c\u00f4ng c\u1ee5 ch\u1ea5m \u0111i\u1ec3m r\u1ee7i ro ti\u00ean ti\u1ebfn c\u1ee7a Pocket Option \u0111\u00e3 x\u00e1c \u0111\u1ecbnh n\u1ee3 c\u1ee7a Dell l\u00e0 m\u1ed9t y\u1ebfu t\u1ed1 \u0111i\u1ec1u ti\u1ebft. M\u1eb7c d\u00f9 \u0111\u00e3 gi\u1ea3m 58% k\u1ec3 t\u1eeb khi mua l\u1ea1i EMC, kho\u1ea3n n\u1ee3 18.1 t\u1ef7 USD c\u1ee7a Dell y\u00eau c\u1ea7u 820 tri\u1ec7u USD thanh to\u00e1n l\u00e3i h\u00e0ng n\u0103m c\u00f3 th\u1ec3 h\u1ea1n ch\u1ebf s\u1ef1 linh ho\u1ea1t trong c\u00e1c cu\u1ed9c suy tho\u00e1i kinh t\u1ebf. Tuy nhi\u00ean, d\u00f2ng ti\u1ec1n h\u00e0ng n\u0103m 9.3 t\u1ef7 USD c\u1ee7a c\u00f4ng ty v\u00e0 k\u1ebf ho\u1ea1ch gi\u1ea3m n\u1ee3 c\u00f3 c\u1ea5u tr\u00fac nh\u1eafm m\u1ee5c ti\u00eau 1.5x EBITDA v\u00e0o n\u0103m 2026 gi\u1ea3m thi\u1ec3u \u0111\u00e1ng k\u1ec3 m\u1ed1i lo ng\u1ea1i n\u00e0y.<\/p>\n<h2>Ph\u00e2n T\u00edch \u0110\u1ecbnh Gi\u00e1 v\u00e0 \u0110i\u1ec3m V\u00e0o<\/h2>\n<p>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111ang c\u00e2n nh\u1eafc li\u1ec7u c\u1ed5 phi\u1ebfu Dell c\u00f3 ph\u1ea3i l\u00e0 m\u1ed9t l\u1ef1a ch\u1ecdn t\u1ed1t, c\u00e1c ch\u1ec9 s\u1ed1 \u0111\u1ecbnh gi\u00e1 hi\u1ec7n t\u1ea1i so v\u1edbi m\u1ee9c trung b\u00ecnh l\u1ecbch s\u1eed v\u00e0 ti\u00eau chu\u1ea9n ng\u00e0nh cung c\u1ea5p h\u01b0\u1edbng d\u1eabn \u0111i\u1ec3m v\u00e0o thi\u1ebft y\u1ebfu. Dell giao d\u1ecbch \u1edf m\u1ed9t h\u1ed3 s\u01a1 \u0111\u1ecbnh gi\u00e1 ph\u1ee9c t\u1ea1p \u0111\u00f2i h\u1ecfi s\u1ef1 gi\u1ea3i th\u00edch tinh t\u1ebf.<\/p>\n<div class=\"table-container\">\n<table border=\"1\">\n<thead>\n<tr>\n<th>Ch\u1ec9 S\u1ed1 \u0110\u1ecbnh Gi\u00e1<\/th>\n<th>Dell Hi\u1ec7n T\u1ea1i<\/th>\n<th>Trung B\u00ecnh 5 N\u0103m c\u1ee7a Dell<\/th>\n<th>Trung B\u00ecnh Ng\u00e0nh<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>T\u1ef7 L\u1ec7 P\/E (TTM)<\/td>\n<td>13.2x<\/td>\n<td>11.7x<\/td>\n<td>18.4x<\/td>\n<\/tr>\n<tr>\n<td>Forward P\/E<\/td>\n<td>11.8x<\/td>\n<td>10.5x<\/td>\n<td>16.7x<\/td>\n<\/tr>\n<tr>\n<td>Gi\u00e1 tr\u00ean Doanh Thu<\/td>\n<td>0.78x<\/td>\n<td>0.62x<\/td>\n<td>1.95x<\/td>\n<\/tr>\n<tr>\n<td>EV\/EBITDA<\/td>\n<td>8.6x<\/td>\n<td>7.3x<\/td>\n<td>12.1x<\/td>\n<\/tr>\n<tr>\n<td>Gi\u00e1 tr\u00ean D\u00f2ng Ti\u1ec1n T\u1ef1 Do<\/td>\n<td>9.4x<\/td>\n<td>8.1x<\/td>\n<td>14.3x<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>C\u00e1c ch\u1ec9 s\u1ed1 n\u00e0y ti\u1ebft l\u1ed9 Dell giao d\u1ecbch \u1edf m\u1ee9c cao h\u01a1n 12.8% so v\u1edbi m\u1ee9c trung b\u00ecnh l\u1ecbch s\u1eed c\u1ee7a n\u00f3 nh\u01b0ng duy tr\u00ec m\u1ee9c chi\u1ebft kh\u1ea5u \u0111\u00e1ng k\u1ec3 28.3% so v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 ng\u00e0nh. V\u1ecb tr\u00ed n\u00e0y t\u1ea1o ra m\u1ed9t th\u00e1ch th\u1ee9c ph\u00e2n t\u00edch: x\u00e1c \u0111\u1ecbnh li\u1ec7u c\u00e1c s\u00e1ng ki\u1ebfn t\u0103ng tr\u01b0\u1edfng \u0111ang t\u0103ng t\u1ed1c c\u1ee7a Dell c\u00f3 bi\u1ec7n minh cho c\u00e1c b\u1ed9i s\u1ed1 cao h\u01a1n ph\u1ea1m vi l\u1ecbch s\u1eed c\u1ee7a n\u00f3 trong khi \u0111\u00e1nh gi\u00e1 li\u1ec7u chi\u1ebft kh\u1ea5u ng\u00e0nh c\u00f3 c\u00f2n \u0111\u01b0\u1ee3c b\u1ea3o \u0111\u1ea3m hay kh\u00f4ng khi x\u00e9t \u0111\u1ebfn h\u1ed3 s\u01a1 bi\u00ean l\u1ee3i nhu\u1eadn c\u1ea3i thi\u1ec7n c\u1ee7a Dell.<\/p>\n<p>C\u00e1ch ti\u1ebfp c\u1eadn c\u1ee7a qu\u1ea3n l\u00fd danh m\u1ee5c \u0111\u1ea7u t\u01b0 Sarah Chen minh h\u1ecda ph\u00e2n t\u00edch \u0111\u1ecbnh gi\u00e1 tinh vi. Chen, ng\u01b0\u1eddi th\u01b0\u1eddng xuy\u00ean s\u1eed d\u1ee5ng c\u00f4ng c\u1ee5 m\u00f4 h\u00ecnh DCF \u0111\u1ed9c quy\u1ec1n c\u1ee7a Pocket Option, \u0111\u00e3 ph\u00e1t tri\u1ec3n m\u1ed9t lu\u1eadn \u0111i\u1ec3m \u0111\u1ea7u t\u01b0 Dell b\u1eb1ng c\u00e1ch s\u1eed d\u1ee5ng m\u00f4 h\u00ecnh d\u00f2ng ti\u1ec1n nhi\u1ec1u giai \u0111o\u1ea1n v\u1edbi c\u00e1c gi\u1ea3 \u0111\u1ecbnh gi\u00e1 tr\u1ecb cu\u1ed1i c\u00f9ng c\u1ee5 th\u1ec3 cho t\u1eebng ph\u00e2n kh\u00fac kinh doanh.<\/p>\n<p>&#8220;M\u00f4 h\u00ecnh DCF ph\u00e2n \u0111o\u1ea1n c\u1ee7a t\u00f4i \u0111\u1ecbnh gi\u00e1 Nh\u00f3m Gi\u1ea3i Ph\u00e1p H\u1ea1 T\u1ea7ng \u1ed5n \u0111\u1ecbnh c\u1ee7a Dell \u1edf m\u1ee9c 10.5x EBITDA v\u00e0 c\u00e1c ph\u00e2n kh\u00fac t\u0103ng tr\u01b0\u1edfng cao h\u01a1n c\u1ee7a n\u00f3 \u1edf m\u1ee9c 13.8x EBITDA,&#8221; Chen gi\u1ea3i th\u00edch t\u1ea1i Di\u1ec5n \u0111\u00e0n Nh\u00e0 \u0110\u1ea7u T\u01b0 T\u1ed5 Ch\u1ee9c 2024. &#8220;C\u00e1ch ti\u1ebfp c\u1eadn c\u00f3 tr\u1ecdng s\u1ed1 n\u00e0y mang l\u1ea1i \u01b0\u1edbc t\u00ednh gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd l\u00e0 137.85 USD m\u1ed7i c\u1ed5 phi\u1ebfu &#8211; cao h\u01a1n kho\u1ea3ng 17% so v\u1edbi gi\u00e1 giao d\u1ecbch hi\u1ec7n t\u1ea1i &#8211; cung c\u1ea5p c\u1ea3 ti\u1ec1m n\u0103ng t\u0103ng gi\u00e1 v\u00e0 bi\u00ean \u0111\u1ed9 an to\u00e0n \u0111\u00e1ng k\u1ec3.&#8221;<\/p>\n<h3>C\u00e2n Nh\u1eafc Ph\u00e2n T\u00edch K\u1ef9 Thu\u1eadt<\/h3>\n<p>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 k\u1ebft h\u1ee3p c\u00e1c y\u1ebfu t\u1ed1 k\u1ef9 thu\u1eadt, Dell th\u1ec3 hi\u1ec7n m\u1ed9t s\u1ed1 m\u00f4 h\u00ecnh c\u00f3 th\u1ec3 h\u00e0nh \u0111\u1ed9ng. C\u1ed5 phi\u1ebfu \u0111\u00e3 thi\u1ebft l\u1eadp c\u00e1c m\u1ee9c h\u1ed7 tr\u1ee3 t\u0103ng d\u1ea7n \u1edf m\u1ee9c 87 USD, 93 USD, v\u00e0 102 USD trong m\u01b0\u1eddi t\u00e1m th\u00e1ng, t\u1ea1o ra m\u1ed9t m\u00f4 h\u00ecnh b\u1eadc thang c\u1ee7a c\u00e1c m\u1ee9c th\u1ea5p h\u01a1n cao h\u01a1n. Trong khi \u0111\u00f3, c\u00e1c m\u1ee9c kh\u00e1ng c\u1ef1 \u1edf m\u1ee9c 118 USD v\u00e0 125 USD \u0111\u00e3 \u0111\u01b0\u1ee3c th\u1eed nghi\u1ec7m nhi\u1ec1u l\u1ea7n v\u00e0 cu\u1ed1i c\u00f9ng b\u1ecb ph\u00e1 v\u1ee1 v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng t\u0103ng.<\/p>\n<ul>\n<li>C\u00e1c m\u1ee9c h\u1ed7 tr\u1ee3 \u0111\u00e3 \u0111\u01b0\u1ee3c c\u1ee7ng c\u1ed1 v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng cao h\u01a1n 27% \u1edf m\u1ed7i l\u1ea7n th\u1eed nghi\u1ec7m<\/li>\n<li>C\u00e1c m\u00f4 h\u00ecnh t\u00edch l\u0169y cho th\u1ea5y t\u1ef7 l\u1ec7 kh\u1ed1i l\u01b0\u1ee3ng mua\/b\u00e1n 3:1 trong th\u1eddi k\u1ef3 y\u1ebfu k\u00e9m c\u1ee7a th\u1ecb tr\u01b0\u1eddng r\u1ed9ng h\u01a1n<\/li>\n<li>C\u00e1c giao c\u1eaft trung b\u00ecnh \u0111\u1ed9ng 50\/200 ng\u00e0y \u0111\u00e3 d\u1ef1 \u0111o\u00e1n 75% c\u00e1c \u0111\u1ed9ng th\u00e1i l\u1edbn<\/li>\n<li>S\u1ee9c m\u1ea1nh t\u01b0\u01a1ng \u0111\u1ed1i so v\u1edbi ETF c\u00f4ng ngh\u1ec7 XLK \u0111\u00e3 c\u1ea3i thi\u1ec7n t\u1eeb 0.72 l\u00ean 0.88 trong s\u00e1u qu\u00fd<\/li>\n<\/ul>\n<p>C\u00e1c nh\u00e0 giao d\u1ecbch s\u1eed d\u1ee5ng c\u00f4ng c\u1ee5 nh\u1eadn di\u1ec7n m\u00f4 h\u00ecnh bi\u1ec3u \u0111\u1ed3 ti\u00ean ti\u1ebfn c\u1ee7a Pocket Option \u0111\u00e3 x\u00e1c \u0111\u1ecbnh s\u1ee9c m\u1ea1nh t\u01b0\u01a1ng \u0111\u1ed1i c\u1ea3i thi\u1ec7n c\u1ee7a Dell so v\u1edbi Nasdaq 100 l\u00e0 \u0111\u1eb7c bi\u1ec7t \u0111\u00e1ng ch\u00fa \u00fd. M\u1ed1i t\u01b0\u01a1ng quan 60 ng\u00e0y c\u1ee7a c\u1ed5 phi\u1ebfu v\u1edbi ch\u1ec9 s\u1ed1 \u0111\u00e3 gi\u1ea3m t\u1eeb 0.87 xu\u1ed1ng 0.63, cho th\u1ea5y Dell \u0111\u00e3 ph\u00e1t tri\u1ec3n c\u00e1c \u0111\u1ed9ng l\u1ef1c c\u1ee5 th\u1ec3 c\u1ee7a c\u00f4ng ty ngo\u00e0i \u0111\u1ed9ng l\u1ef1c c\u1ee7a ng\u00e0nh c\u00f4ng ngh\u1ec7 r\u1ed9ng h\u01a1n. Beta c\u1ee7a c\u1ed5 phi\u1ebfu \u0111\u00e3 gi\u1ea3m t\u1eeb 1.67 xu\u1ed1ng 1.21, cho th\u1ea5y r\u1ee7i ro bi\u1ebfn \u0111\u1ed9ng gi\u1ea3m ngay c\u1ea3 trong th\u1eddi k\u1ef3 bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng.<\/p>\n<h2>Chi\u1ebfn L\u01b0\u1ee3c \u0110\u1ea7u T\u01b0 cho C\u00e1c H\u1ed3 S\u01a1 Nh\u00e0 \u0110\u1ea7u T\u01b0 Kh\u00e1c Nhau<\/h2>\n<p>C\u00e2u h\u1ecfi &#8220;c\u00f3 n\u00ean mua c\u1ed5 phi\u1ebfu Dell kh\u00f4ng&#8221; c\u00f3 nh\u1eefng c\u00e2u tr\u1ea3 l\u1eddi kh\u00e1c nhau t\u00f9y thu\u1ed9c v\u00e0o m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0, th\u1eddi gian v\u00e0 kh\u1ea3 n\u0103ng ch\u1ecbu r\u1ee7i ro. C\u00e1c h\u1ed3 s\u01a1 nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00e1c nhau n\u00ean ti\u1ebfp c\u1eadn Dell v\u1edbi c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh ph\u00f9 h\u1ee3p v\u1edbi m\u1ee5c ti\u00eau c\u1ee7a h\u1ecd.<\/p>\n<div class=\"table-container\">\n<table border=\"1\">\n<thead>\n<tr>\n<th>H\u1ed3 S\u01a1 Nh\u00e0 \u0110\u1ea7u T\u01b0<\/th>\n<th>Chi\u1ebfn L\u01b0\u1ee3c Dell Ti\u1ec1m N\u0103ng<\/th>\n<th>C\u00e2n Nh\u1eafc Ph\u00e2n B\u1ed5 Danh M\u1ee5c<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Nh\u00e0 \u0110\u1ea7u T\u01b0 T\u0103ng Tr\u01b0\u1edfng<\/td>\n<td>T\u1eadp trung v\u00e0o CAGR 35% c\u1ee7a Dell trong AI, \u0111i\u1ec7n to\u00e1n bi\u00ean<\/td>\n<td>Ph\u00e2n b\u1ed5 5-8% v\u1edbi t\u1ef7 l\u1ec7 m\u1edf r\u1ed9ng v\u1ecb tr\u00ed 25% khi gi\u00e1 gi\u1ea3m<\/td>\n<\/tr>\n<tr>\n<td>Nh\u00e0 \u0110\u1ea7u T\u01b0 Gi\u00e1 Tr\u1ecb<\/td>\n<td>Nh\u1ea5n m\u1ea1nh chi\u1ebft kh\u1ea5u \u0111\u1ecbnh gi\u00e1 28.3%, b\u1ed9i s\u1ed1 FCF 9.4x<\/td>\n<td>V\u1ecb tr\u00ed c\u1ed1t l\u00f5i 3-6% v\u1edbi b\u1ed5 sung chi\u1ebfn thu\u1eadt 2% d\u01b0\u1edbi 10x FCF<\/td>\n<\/tr>\n<tr>\n<td>Nh\u00e0 \u0110\u1ea7u T\u01b0 Thu Nh\u1eadp<\/td>\n<td>Ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng c\u1ed5 t\u1ee9c v\u1edbi m\u1ee9c t\u0103ng h\u00e0ng n\u0103m 12%<\/td>\n<td>Ph\u00e2n b\u1ed5 2-4% v\u1edbi \u0111\u0103ng k\u00fd DRIP \u0111\u1ec3 t\u0103ng tr\u01b0\u1edfng k\u00e9p<\/td>\n<\/tr>\n<tr>\n<td>Nh\u00e0 \u0110\u1ea7u T\u01b0 C\u00e2n B\u1eb1ng<\/td>\n<td>N\u1eafm gi\u1eef c\u00f4ng ngh\u1ec7 c\u1ed1t l\u00f5i v\u1edbi bi\u00ean l\u1ee3i nhu\u1eadn ho\u1ea1t \u0111\u1ed9ng 9.2%<\/td>\n<td>Ph\u00e2n b\u1ed5 3-5% v\u1edbi c\u00e2n b\u1eb1ng l\u1ea1i h\u00e0ng qu\u00fd so v\u1edbi m\u1ee5c ti\u00eau<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>C\u00e2u l\u1ea1c b\u1ed9 &#8220;Nh\u00e0 \u0110\u1ea7u T\u01b0 T\u01b0\u01a1ng Lai C\u00f4ng Ngh\u1ec7&#8221; minh h\u1ecda c\u00e1ch ti\u1ebfp c\u1eadn c\u00e2n b\u1eb1ng \u0111\u1ed1i v\u1edbi v\u1ecb tr\u00ed c\u1ee7a Dell. Nh\u00f3m \u0111\u1ea7u t\u01b0 12 th\u00e0nh vi\u00ean n\u00e0y \u0111\u00e3 cam k\u1ebft 240,000 USD (4% danh m\u1ee5c \u0111\u1ea7u t\u01b0 6 tri\u1ec7u USD c\u1ee7a h\u1ecd) v\u00e0o Dell v\u00e0o th\u00e1ng 8 n\u0103m 2020 khi c\u1ed5 phi\u1ebfu giao d\u1ecbch \u1edf m\u1ee9c 61.78 USD, coi \u0111\u00f3 l\u00e0 m\u1ed9t &#8220;kho\u1ea3n \u0111\u1ea7u t\u01b0 barbell&#8221; c\u00e2n b\u1eb1ng thu nh\u1eadp \u0111i\u1ec1u ch\u1ec9nh c\u1ed5 t\u1ee9c 6.3% v\u1edbi ti\u1ebfp x\u00fac v\u1edbi t\u0103ng tr\u01b0\u1edfng h\u00e0ng n\u0103m 27% trong \u0111i\u1ec7n to\u00e1n bi\u00ean. V\u1ecb tr\u00ed c\u1ee7a h\u1ecd \u0111\u00e3 t\u0103ng l\u00ean 450,120 USD, v\u01b0\u1ee3t tr\u1ed9i h\u01a1n ti\u00eau chu\u1ea9n c\u00f4ng ngh\u1ec7 c\u1ee7a h\u1ecd 23 \u0111i\u1ec3m ph\u1ea7n tr\u0103m.<\/p>\n<p>C\u00e2u l\u1ea1c b\u1ed9 \u0111\u00e3 \u00e1p d\u1ee5ng chi\u1ebfn l\u01b0\u1ee3c k\u1ef7 lu\u1eadt thi\u1ebft l\u1eadp v\u1ecb tr\u00ed ban \u0111\u1ea7u 180,000 USD c\u1ee7a h\u1ecd trong th\u1eddi k\u1ef3 y\u1ebfu k\u00e9m c\u1ee7a th\u1ecb tr\u01b0\u1eddng, sau \u0111\u00f3 th\u00eam 60,000 USD trong \u0111\u1ee3t \u0111i\u1ec1u ch\u1ec9nh ng\u00e0nh c\u00f4ng ngh\u1ec7 th\u00e1ng 5 n\u0103m 2022 khi Dell gi\u1ea3m xu\u1ed1ng 49.58 USD. C\u00e1ch ti\u1ebfp c\u1eadn n\u00e0y minh h\u1ecda chi\u1ebfn l\u01b0\u1ee3c trung b\u00ecnh gi\u00e1 m\u00e0 kh\u00e1ch h\u00e0ng c\u1ee7a Pocket Option th\u01b0\u1eddng s\u1eed d\u1ee5ng khi x\u00e2y d\u1ef1ng v\u1ecb tr\u00ed trong c\u00e1c c\u00f4ng ty c\u00f3 n\u1ec1n t\u1ea3ng v\u1eefng ch\u1eafc \u0111ang tr\u1ea3i qua bi\u1ebfn \u0111\u1ed9ng t\u1ea1m th\u1eddi.<\/p>\n<h3>C\u00e2n Nh\u1eafc T\u00edch H\u1ee3p Danh M\u1ee5c<\/h3>\n<p>Khi \u0111\u00e1nh gi\u00e1 li\u1ec7u c\u1ed5 phi\u1ebfu Dell c\u00f3 ph\u1ea3i l\u00e0 m\u1ed9t l\u1ef1a ch\u1ecdn t\u1ed1t cho t\u00ecnh hu\u1ed1ng c\u1ee5 th\u1ec3 c\u1ee7a b\u1ea1n, c\u00e1c kh\u00eda c\u1ea1nh t\u00edch h\u1ee3p danh m\u1ee5c \u1ea3nh h\u01b0\u1edfng \u0111\u00e1ng k\u1ec3 \u0111\u1ebfn t\u1ed5ng l\u1ee3i nhu\u1eadn. H\u1ec7 s\u1ed1 t\u01b0\u01a1ng quan 0.63 c\u1ee7a Dell v\u1edbi c\u00e1c kho\u1ea3n n\u1eafm gi\u1eef c\u00f4ng ngh\u1ec7 \u0111i\u1ec3n h\u00ecnh \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn l\u1ee3i \u00edch \u0111a d\u1ea1ng h\u00f3a trong khi beta 1.21 c\u1ee7a n\u00f3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn s\u1ef1 bi\u1ebfn \u0111\u1ed9ng t\u1ed5ng th\u1ec3 c\u1ee7a danh m\u1ee5c.<\/p>\n<ul>\n<li>Dell cho th\u1ea5y \u0111\u1ed9 bi\u1ebfn \u0111\u1ed9ng 30 ng\u00e0y th\u1ea5p h\u01a1n 42% so v\u1edbi c\u00e1c c\u00f4ng ty ph\u1ea7n m\u1ec1m thu\u1ea7n t\u00fay<\/li>\n<li>T\u01b0\u01a1ng quan 0.51 v\u1edbi c\u1ed5 phi\u1ebfu ti\u00eau d\u00f9ng kh\u00f4ng thi\u1ebft y\u1ebfu t\u0103ng c\u01b0\u1eddng \u0111a d\u1ea1ng h\u00f3a<\/li>\n<li>43% doanh thu qu\u1ed1c t\u1ebf cung c\u1ea5p b\u1ea3o hi\u1ec3m ti\u1ec1n t\u1ec7 v\u00e0 \u0111\u1ecba l\u00fd<\/li>\n<li>T\u0103ng tr\u01b0\u1edfng doanh thu d\u1ecbch v\u1ee5 7.3% trong n\u0103m 2022 v\u1edbi l\u1ea1m ph\u00e1t 8.3% ch\u1ee9ng t\u1ecf s\u1ee9c m\u1ea1nh \u0111\u1ecbnh gi\u00e1<\/li>\n<\/ul>\n<p>C\u1ed1 v\u1ea5n t\u00e0i ch\u00ednh Thomas Merritt, ng\u01b0\u1eddi qu\u1ea3n l\u00fd 780 tri\u1ec7u USD cho c\u00e1c gi\u00e1m \u0111\u1ed1c \u0111i\u1ec1u h\u00e0nh c\u00f4ng ngh\u1ec7, khuy\u1ebfn ngh\u1ecb kh\u00e1ch h\u00e0ng \u0111\u00e1nh gi\u00e1 c\u1ea9n th\u1eadn s\u1ef1 ti\u1ebfp x\u00fac ng\u00e0nh hi\u1ec7n c\u00f3 tr\u01b0\u1edbc khi th\u00eam Dell. &#8220;\u0110\u1ed1i v\u1edbi c\u00e1c danh m\u1ee5c c\u00f3 ph\u00e2n b\u1ed5 \u0111\u00e1ng k\u1ec3 cho c\u00e1c nh\u00e0 cung c\u1ea5p SaaS ho\u1eb7c nh\u00e0 s\u1ea3n xu\u1ea5t ch\u1ea5t b\u00e1n d\u1eabn, Dell cung c\u1ea5p s\u1ef1 ti\u1ebfp x\u00fac b\u1ed5 sung v\u1edbi \u0111\u1ed9 bi\u1ebfn \u0111\u1ed9ng th\u1ea5p h\u01a1n 42% v\u00e0 s\u1ef1 ch\u1ed3ng ch\u00e9o doanh thu t\u1ed1i thi\u1ec3u,&#8221; Merritt gi\u1ea3i th\u00edch. &#8220;Ng\u01b0\u1ee3c l\u1ea1i, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 tr\u1ecdng s\u1ed1 l\u1edbn trong c\u00e1c ng\u00e0nh gi\u00e1 tr\u1ecb truy\u1ec1n th\u1ed1ng c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng Dell nh\u01b0 m\u1ed9t ph\u00e2n b\u1ed5 c\u00f4ng ngh\u1ec7 v\u1edbi r\u1ee7i ro gi\u1ea3m gi\u00e1 \u00edt h\u01a1n so v\u1edbi c\u00e1c t\u00ean tu\u1ed5i t\u0103ng tr\u01b0\u1edfng thu\u1ea7n t\u00fay.&#8221;<\/p>\n<p>C\u00f4ng c\u1ee5 ma tr\u1eadn t\u01b0\u01a1ng quan c\u1ee7a Pocket Option gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00ednh to\u00e1n c\u00e1ch Dell s\u1ebd \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn l\u1ee3i nhu\u1eadn \u0111i\u1ec1u ch\u1ec9nh r\u1ee7i ro c\u1ee7a danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a h\u1ecd. Ki\u1ec3m tra ng\u01b0\u1ee3c cho th\u1ea5y th\u00eam ph\u00e2n b\u1ed5 4% Dell v\u00e0o m\u1ed9t danh m\u1ee5c ti\u00eau chu\u1ea9n 60\/40 c\u1ea3i thi\u1ec7n t\u1ef7 l\u1ec7 Sharpe 0.17 \u0111i\u1ec3m trong khi gi\u1ea3m m\u1ee9c gi\u1ea3m t\u1ed1i \u0111a 2.3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m trong giai \u0111o\u1ea1n 2020-2022.<\/p>\n<h2>Quan \u0110i\u1ec3m Chuy\u00ean Gia v\u00e0 Ph\u1ee7 S\u00f3ng c\u1ee7a Nh\u00e0 Ph\u00e2n T\u00edch<\/h2>\n<p>Khi x\u00e1c \u0111\u1ecbnh li\u1ec7u Dell c\u00f3 ph\u1ea3i l\u00e0 m\u1ed9t c\u1ed5 phi\u1ebfu t\u1ed1t \u0111\u1ec3 mua, quan \u0111i\u1ec3m c\u1ee7a c\u00e1c nh\u00e0 ph\u00e2n t\u00edch chuy\u00ean nghi\u1ec7p cung c\u1ea5p b\u1ed1i c\u1ea3nh c\u00f3 gi\u00e1 tr\u1ecb. Ph\u1ee7 s\u00f3ng c\u1ee7a Wall Street v\u1ec1 Dell bao g\u1ed3m 38 nh\u00e0 ph\u00e2n t\u00edch v\u1edbi \u00fd ki\u1ebfn t\u01b0\u01a1ng \u0111\u1ed1i chia r\u1ebd d\u1ef1a tr\u00ean c\u00e1c \u0111\u00e1nh gi\u00e1 kh\u00e1c nhau v\u1ec1 ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng v\u00e0 kh\u1ea3 n\u0103ng c\u1ea1nh tranh c\u1ee7a c\u00f4ng ty.<\/p>\n<div class=\"table-container\">\n<table border=\"1\">\n<thead>\n<tr>\n<th>Ph\u00e2n B\u1ed1 X\u1ebfp H\u1ea1ng Nh\u00e0 Ph\u00e2n T\u00edch<\/th>\n<th>T\u1ef7 L\u1ec7 (Nh\u00e0 Ph\u00e2n T\u00edch)<\/th>\n<th>M\u1ee5c Ti\u00eau Gi\u00e1 Trung B\u00ecnh<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Mua M\u1ea1nh<\/td>\n<td>37% (14)<\/td>\n<td>132 USD<\/td>\n<\/tr>\n<tr>\n<td>Mua<\/td>\n<td>42% (16)<\/td>\n<td>125 USD<\/td>\n<\/tr>\n<tr>\n<td>Gi\u1eef<\/td>\n<td>18% (7)<\/td>\n<td>108 USD<\/td>\n<\/tr>\n<tr>\n<td>B\u00e1n<\/td>\n<td>3% (1)<\/td>\n<td>87 USD<\/td>\n<\/tr>\n<tr>\n<td>B\u00e1n M\u1ea1nh<\/td>\n<td>0% (0)<\/td>\n<td>N\/A<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Ti\u1ebfn s\u0129 Miranda Chen, Nh\u00e0 Ph\u00e2n T\u00edch C\u00f4ng Ngh\u1ec7 Tr\u01b0\u1edfng t\u1ea1i Vi\u1ec7n Nghi\u00ean C\u1ee9u V\u1ed1n v\u1edbi 22 n\u0103m kinh nghi\u1ec7m trong l\u0129nh v\u1ef1c ph\u1ea7n c\u1ee9ng doanh nghi\u1ec7p, \u0111\u01b0a ra \u0111\u00e1nh gi\u00e1 n\u00e0y: &#8220;Dell chi\u1ebfm v\u1ecb tr\u00ed chi\u1ebfn l\u01b0\u1ee3c trong h\u1ec7 sinh th\u00e1i c\u00f4ng ngh\u1ec7 &#8211; kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t nh\u00e0 cung c\u1ea5p ph\u1ea7n c\u1ee9ng truy\u1ec1n th\u1ed1ng m\u00e0 c\u0169ng kh\u00f4ng ch\u1ec9 t\u1eadp trung v\u00e0o \u0111\u1ed5i m\u1edbi ti\u00ean ti\u1ebfn. C\u00e1ch ti\u1ebfp c\u1eadn c\u00e2n b\u1eb1ng n\u00e0y cho ph\u00e9p c\u00f4ng ty t\u1eadn d\u1ee5ng 98,000 m\u1ed1i quan h\u1ec7 kh\u00e1ch h\u00e0ng doanh nghi\u1ec7p c\u1ee7a m\u00ecnh trong khi m\u1edf r\u1ed9ng m\u1ed9t c\u00e1ch c\u00f3 ph\u01b0\u01a1ng ph\u00e1p v\u00e0o c\u00e1c ph\u00e2n kh\u00fac t\u0103ng tr\u01b0\u1edfng cao h\u01a1n nh\u01b0 c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng AI, n\u01a1i doanh thu c\u1ee7a n\u00f3 \u0111ang t\u0103ng tr\u01b0\u1edfng 43% h\u00e0ng n\u0103m.&#8221;<\/p>\n<p>Ph\u00e2n t\u00edch c\u1ee7a Ti\u1ebfn s\u0129 Chen ph\u00f9 h\u1ee3p v\u1edbi c\u00e1c ch\u1ec9 s\u1ed1 t\u00e2m l\u00fd \u0111\u1ed9c quy\u1ec1n c\u1ee7a Pocket Option nh\u1ea5n m\u1ea1nh t\u1ef7 l\u1ec7 r\u1ee7i ro-ph\u1ea7n th\u01b0\u1edfng h\u1ea5p d\u1eabn c\u1ee7a Dell. &#8220;\u0110\u1ecbnh gi\u00e1 c\u1ee7a c\u00f4ng ty \u1edf m\u1ee9c 0.78x doanh thu so v\u1edbi 1.95x c\u1ee7a ng\u00e0nh cung c\u1ea5p m\u1ee9c chi\u1ebft kh\u1ea5u 60% m\u1eb7c d\u00f9 c\u00f3 h\u1ed3 s\u01a1 bi\u00ean l\u1ee3i nhu\u1eadn t\u01b0\u01a1ng t\u1ef1,&#8221; nh\u00e0 ph\u00e2n t\u00edch c\u00f4ng ngh\u1ec7 k\u1ef3 c\u1ef1u James Wilson l\u01b0u \u00fd trong b\u00ecnh lu\u1eadn th\u1ecb tr\u01b0\u1eddng c\u1ee7a Pocket Option. &#8220;Trong khi \u0111\u00f3, kho\u1ea3n \u0111\u1ea7u t\u01b0 4.5 t\u1ef7 USD c\u1ee7a Dell v\u00e0o kh\u1ea3 n\u0103ng AI v\u00e0 \u0111i\u1ec7n to\u00e1n bi\u00ean \u0111\u1ecbnh v\u1ecb n\u00f3 \u0111\u1ec3 chi\u1ebfm th\u1ecb ph\u1ea7n \u0111\u00e1ng k\u1ec3 trong c\u00e1c ph\u00e2n kh\u00fac t\u0103ng tr\u01b0\u1edfng 30-45% h\u00e0ng n\u0103m.&#8221;<\/p>\n<p>C\u00e1c quan \u0111i\u1ec3m tr\u00e1i ng\u01b0\u1ee3c c\u0169ng \u0111\u00e1ng \u0111\u01b0\u1ee3c xem x\u00e9t. Nh\u00e0 ho\u00e0i nghi c\u00f4ng ngh\u1ec7 n\u1ed5i ti\u1ebfng William Riordan \u0111\u1eb7t c\u00e2u h\u1ecfi v\u1ec1 kh\u1ea3 n\u0103ng c\u1ee7a Dell trong vi\u1ec7c chuy\u1ec3n \u0111\u1ed5i th\u00e0nh c\u00f4ng t\u1eeb g\u1ed1c r\u1ec5 ph\u1ea7n c\u1ee9ng c\u1ee7a m\u00ecnh sang m\u00f4 h\u00ecnh ph\u1ea7n m\u1ec1m v\u00e0 d\u1ecbch v\u1ee5 m\u00e0 y\u00eau c\u1ea7u \u0111\u1ecbnh gi\u00e1 cao c\u1ea5p. &#8220;Dell ch\u1ec9 t\u1ea1o ra 23% doanh thu t\u1eeb c\u00e1c d\u1ecbch v\u1ee5 \u0111\u1ecbnh k\u1ef3 so v\u1edbi 67% c\u1ee7a IBM v\u00e0 78% c\u1ee7a Microsoft,&#8221; Riordan l\u1eadp lu\u1eadn. &#8220;S\u1ef1 kh\u00e1c bi\u1ec7t c\u1ea5u tr\u00fac n\u00e0y gi\u1ea3i th\u00edch ph\u1ea7n l\u1edbn kho\u1ea3ng c\u00e1ch \u0111\u1ecbnh gi\u00e1, v\u00e0 t\u1ed1c \u0111\u1ed9 chuy\u1ec3n \u0111\u1ed5i c\u1ee7a Dell v\u1eabn ch\u01b0a \u0111\u1ee7 \u0111\u1ec3 bi\u1ec7n minh cho s\u1ef1 m\u1edf r\u1ed9ng b\u1ed9i s\u1ed1.&#8221;<\/p>\n    <div class=\"po-container po-container_width_article\">\n        <a href=\"\/en\/quick-start\/\" class=\"po-line-banner po-article-page__line-banner\">\n            <svg class=\"svg-image po-line-banner__logo\" fill=\"currentColor\" width=\"auto\" height=\"auto\"\n                 aria-hidden=\"true\">\n                <use href=\"#svg-img-logo-white\"><\/use>\n            <\/svg>\n            <span class=\"po-line-banner__btn\">B\u1eaft \u0110\u1ea7u Giao D\u1ecbch<\/span>\n        <\/a>\n    <\/div>\n    \n<h2>K\u1ebft Lu\u1eadn: \u0110\u01b0a Ra Quy\u1ebft \u0110\u1ecbnh \u0110\u1ea7u T\u01b0 Th\u00f4ng Minh<\/h2>\n<p>X\u00e1c \u0111\u1ecbnh li\u1ec7u c\u1ed5 phi\u1ebfu Dell c\u00f3 ph\u1ea3i l\u00e0 m\u1ed9t l\u1ef1a ch\u1ecdn t\u1ed1t \u0111\u1ec3 mua \u0111\u00f2i h\u1ecfi t\u00edch h\u1ee3p nhi\u1ec1u chi\u1ec1u ph\u00e2n t\u00edch v\u1edbi c\u00e1c m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0 c\u1ee5 th\u1ec3 c\u1ee7a b\u1ea1n. S\u1ef1 k\u1ebft h\u1ee3p c\u1ee7a c\u00e1c d\u00f2ng kinh doanh \u0111\u00e3 \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp c\u1ee7a c\u00f4ng ty t\u1ea1o ra 9.3 t\u1ef7 USD d\u00f2ng ti\u1ec1n h\u00e0ng n\u0103m c\u00f9ng v\u1edbi c\u00e1c s\u00e1ng ki\u1ebfn c\u00f4ng ngh\u1ec7 m\u1edbi n\u1ed5i t\u0103ng tr\u01b0\u1edfng 25-45% t\u1ea1o ra m\u1ed9t tr\u01b0\u1eddng h\u1ee3p \u0111\u1ea7u t\u01b0 ph\u1ee9c t\u1ea1p nh\u01b0ng c\u00f3 th\u1ec3 mang l\u1ea1i l\u1ee3i nhu\u1eadn.<\/p>\n<p>N\u1ec1n t\u1ea3ng t\u00e0i ch\u00ednh c\u1ee7a Dell cung c\u1ea5p s\u1ef1 \u1ed5n \u0111\u1ecbnh kh\u00f4ng th\u1ec3 ph\u1ee7 nh\u1eadn v\u1edbi l\u1ee3i su\u1ea5t d\u00f2ng ti\u1ec1n t\u1ef1 do 10.6%, bi\u00ean l\u1ee3i nhu\u1eadn ho\u1ea1t \u0111\u1ed9ng c\u1ea3i thi\u1ec7n (t\u1eeb 6.7% l\u00ean 9.2% trong t\u00e1m qu\u00fd), v\u00e0 gi\u1ea3m n\u1ee3 25 t\u1ef7 USD k\u1ec3 t\u1eeb khi mua l\u1ea1i EMC. S\u1ee9c m\u1ea1nh t\u00e0i ch\u00ednh n\u00e0y cung c\u1ea5p s\u1ef1 b\u1ea3o v\u1ec7 \u0111\u00e1ng k\u1ec3 trong th\u1eddi k\u1ef3 bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng. \u0110\u1ed3ng th\u1eddi, c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 chi\u1ebfn l\u01b0\u1ee3c v\u00e0o \u0111i\u1ec7n to\u00e1n bi\u00ean, c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng AI, v\u00e0 d\u1ecbch v\u1ee5 qu\u1ea3n l\u00fd \u0111\u00e1m m\u00e2y mang l\u1ea1i ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng h\u1ea5p d\u1eabn v\u1edbi y\u00eau c\u1ea7u v\u1ed1n b\u1ed5 sung t\u1ed1i thi\u1ec3u.<\/p>\n<p>\u0110\u1ecbnh gi\u00e1 hi\u1ec7n t\u1ea1i tr\u00ecnh b\u00e0y m\u1ed9t c\u01a1 h\u1ed9i th\u00fa v\u1ecb &#8211; giao d\u1ecbch \u1edf m\u1ee9c cao h\u01a1n 12.8% so v\u1edbi m\u1ee9c trung b\u00ecnh l\u1ecbch s\u1eed c\u1ee7a Dell nh\u01b0ng duy tr\u00ec m\u1ee9c chi\u1ebft kh\u1ea5u \u0111\u00e1ng k\u1ec3 28.3% so v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 ng\u00e0nh. \u0110\u1ed9ng l\u1ef1c \u0111\u1ecbnh gi\u00e1 n\u00e0y cho th\u1ea5y th\u1ecb tr\u01b0\u1eddng \u0111\u00e3 b\u1eaft \u0111\u1ea7u nh\u1eadn ra s\u1ef1 chuy\u1ec3n \u0111\u1ed5i c\u1ee7a Dell nh\u01b0ng v\u1eabn ho\u00e0i nghi v\u1ec1 qu\u1ef9 \u0111\u1ea1o v\u00e0 quy m\u00f4 cu\u1ed1i c\u00f9ng c\u1ee7a n\u00f3. \u0110i\u1ec1u n\u00e0y t\u1ea1o ra c\u01a1 h\u1ed9i ti\u1ec1m n\u0103ng cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u00e1t tri\u1ec3n ni\u1ec1m tin v\u00e0o kh\u1ea3 n\u0103ng th\u1ef1c thi c\u1ee7a Dell trong c\u00e1c ph\u00e2n kh\u00fac t\u0103ng tr\u01b0\u1edfng cao.<\/p>\n<p>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00ecm ki\u1ebfm s\u1ef1 ti\u1ebfp x\u00fac c\u00f4ng ngh\u1ec7 v\u1edbi \u0111\u1ed9 bi\u1ebfn \u0111\u1ed9ng v\u1eeba ph\u1ea3i (beta 1.21) v\u00e0 r\u1ee7i ro \u0111\u1ecbnh gi\u00e1 h\u1ee3p l\u00fd (P\/E d\u1ef1 ph\u00f3ng 11.8x), Dell x\u1ee9ng \u0111\u00e1ng \u0111\u01b0\u1ee3c xem x\u00e9t nghi\u00eam t\u00fac. C\u00e1c m\u1ed1i quan h\u1ec7 doanh nghi\u1ec7p \u0111\u00e3 \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp c\u1ee7a c\u00f4ng ty tr\u1ea3i d\u00e0i 98% c\u00e1c c\u00f4ng ty Fortune 500, c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh c\u1ea3i thi\u1ec7n (ROIC t\u0103ng t\u1eeb 9.7% l\u00ean 13.1%), v\u00e0 v\u1ecb tr\u00ed chi\u1ebfn l\u01b0\u1ee3c trong c\u00e1c ph\u00e2n kh\u00fac c\u00f4ng ngh\u1ec7 t\u0103ng tr\u01b0\u1edfng 30-45% t\u1ea1o ra m\u1ed9t h\u1ed3 s\u01a1 r\u1ee7i ro-ph\u1ea7n th\u01b0\u1edfng h\u1ea5p d\u1eabn cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1eddi gian \u0111\u1ea7u t\u01b0 t\u1eeb 2-5 n\u0103m.<\/p>\n<p>Pocket Option cung c\u1ea5p c\u00e1c c\u00f4ng c\u1ee5 s\u00e0ng l\u1ecdc tinh vi, ph\u00e2n t\u00edch t\u01b0\u01a1ng quan, v\u00e0 kh\u1ea3 n\u0103ng m\u00f4 h\u00ecnh DCF c\u00f3 th\u1ec3 gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1m s\u00e1t ti\u1ebfn tr\u00ecnh c\u1ee7a Dell so v\u1edbi c\u00e1c ch\u1ec9 s\u1ed1 hi\u1ec7u su\u1ea5t ch\u00ednh, x\u00e1c \u0111\u1ecbnh c\u00e1c \u0111i\u1ec3m v\u00e0o k\u1ef9 thu\u1eadt khi t\u1ef7 l\u1ec7 r\u1ee7i ro-ph\u1ea7n th\u01b0\u1edfng l\u00e0 thu\u1eadn l\u1ee3i nh\u1ea5t, v\u00e0 t\u1ed1i \u01b0u h\u00f3a ph\u00e2n b\u1ed5 danh m\u1ee5c d\u1ef1a tr\u00ean c\u00e1c hi\u1ec7u \u1ee9ng t\u01b0\u01a1ng quan. B\u1eb1ng c\u00e1ch t\u1eadn d\u1ee5ng c\u00e1c ngu\u1ed3n l\u1ef1c ph\u00e2n t\u00edch n\u00e0y c\u00f9ng v\u1edbi nghi\u00ean c\u1ee9u c\u01a1 b\u1ea3n, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh d\u1ef1a tr\u00ean d\u1eef li\u1ec7u v\u1ec1 vi\u1ec7c li\u1ec7u Dell c\u00f3 ph\u00f9 h\u1ee3p v\u1edbi c\u00e1c m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0 c\u1ee5 th\u1ec3 v\u00e0 c\u00e1c th\u00f4ng s\u1ed1 r\u1ee7i ro c\u1ee7a h\u1ecd hay kh\u00f4ng.<\/p>\n<\/div>\n"},"faq":[{"question":"Nh\u1eefng y\u1ebfu t\u1ed1 n\u00e0o \u1ea3nh h\u01b0\u1edfng m\u1ea1nh m\u1ebd nh\u1ea5t \u0111\u1ebfn hi\u1ec7u su\u1ea5t c\u1ed5 phi\u1ebfu c\u1ee7a Dell?","answer":"Hi\u1ec7u su\u1ea5t c\u1ed5 phi\u1ebfu c\u1ee7a Dell ch\u1ee7 y\u1ebfu \u0111\u01b0\u1ee3c th\u00fac \u0111\u1ea9y b\u1edfi xu h\u01b0\u1edbng chi ti\u00eau IT doanh nghi\u1ec7p (t\u01b0\u01a1ng quan 37%), chu k\u1ef3 thay th\u1ebf PC (t\u01b0\u01a1ng quan 32%), t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng trung t\u00e2m d\u1eef li\u1ec7u (t\u01b0\u01a1ng quan 28%), v\u00e0 th\u1ef1c hi\u1ec7n trong c\u00e1c c\u00f4ng ngh\u1ec7 m\u1edbi n\u1ed5i (t\u01b0\u01a1ng quan 24%). L\u1ee3i nhu\u1eadn h\u00e0ng qu\u00fd th\u1ec3 hi\u1ec7n ti\u1ebfn b\u1ed9 trong c\u00e1c d\u1ecbch v\u1ee5 c\u00f3 bi\u00ean l\u1ee3i nhu\u1eadn cao h\u01a1n v\u00e0 gi\u1ea3i ph\u00e1p doanh nghi\u1ec7p th\u01b0\u1eddng k\u00edch ho\u1ea1t c\u00e1c bi\u1ebfn \u0111\u1ed9ng gi\u00e1 t\u00edch c\u1ef1c t\u1eeb 4-6%, trong khi m\u1ea5t th\u1ecb ph\u1ea7n trong c\u00e1c ph\u00e2n kh\u00fac c\u1ed1t l\u00f5i ho\u1eb7c n\u00e9n bi\u00ean l\u1ee3i nhu\u1eadn v\u01b0\u1ee3t qu\u00e1 0,5 \u0111i\u1ec3m ph\u1ea7n tr\u0103m c\u00f3 th\u1ec3 g\u00e2y ra gi\u1ea3m 7-9%. C\u1ed5 phi\u1ebfu cho th\u1ea5y \u0111\u1ed9 bi\u1ebfn \u0111\u1ed9ng th\u1ea5p h\u01a1n 42% so v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 ph\u1ea7n m\u1ec1m thu\u1ea7n t\u00fay trong c\u00e1c v\u00f2ng quay c\u1ee7a ng\u00e0nh."},{"question":"Ch\u01b0\u01a1ng tr\u00ecnh c\u1ed5 t\u1ee9c c\u1ee7a Dell so v\u1edbi c\u00e1c c\u00f4ng ty c\u00f4ng ngh\u1ec7 kh\u00e1c nh\u01b0 th\u1ebf n\u00e0o?","answer":"Ch\u01b0\u01a1ng tr\u00ecnh c\u1ed5 t\u1ee9c c\u1ee7a Dell, \u0111\u01b0\u1ee3c kh\u1edfi x\u01b0\u1edbng v\u00e0o th\u00e1ng 2 n\u0103m 2022, cung c\u1ea5p l\u1ee3i su\u1ea5t 1,8% so v\u1edbi m\u1ee9c trung b\u00ecnh 1,3% c\u1ee7a ng\u00e0nh c\u00f4ng ngh\u1ec7 trong khi duy tr\u00ec t\u1ef7 l\u1ec7 chi tr\u1ea3 b\u1ea3o th\u1ee7 26% so v\u1edbi 32% c\u1ee7a ng\u00e0nh. C\u00f4ng ty \u0111\u00e3 t\u0103ng c\u1ed5 t\u1ee9c 12% h\u00e0ng n\u0103m so v\u1edbi t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng trung b\u00ecnh 8% c\u1ee7a ng\u00e0nh c\u00f4ng ngh\u1ec7. C\u1ed5 t\u1ee9c c\u1ee7a Dell \u0111\u01b0\u1ee3c b\u1ea3o \u0111\u1ea3m 3,7 l\u1ea7n b\u1edfi d\u00f2ng ti\u1ec1n t\u1ef1 do, cung c\u1ea5p bi\u00ean \u0111\u1ed9 an to\u00e0n \u0111\u00e1ng k\u1ec3 so v\u1edbi IBM (2,8 l\u1ea7n), Intel (2,3 l\u1ea7n) v\u00e0 Cisco (3,1 l\u1ea7n). C\u00e1ch ti\u1ebfp c\u1eadn n\u00e0y c\u00e2n b\u1eb1ng gi\u1eefa vi\u1ec7c t\u1ea1o thu nh\u1eadp v\u00e0 s\u1ef1 linh ho\u1ea1t t\u00e0i ch\u00ednh cho c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 R&D h\u00e0ng n\u0103m tr\u1ecb gi\u00e1 4,5 t\u1ef7 USD c\u1ee7a Dell."},{"question":"Nh\u1eefng r\u1ee7i ro l\u1edbn nh\u1ea5t \u0111\u1ed1i v\u1edbi m\u00f4 h\u00ecnh kinh doanh c\u1ee7a Dell l\u00e0 g\u00ec?","answer":"Dell \u0111\u1ed1i m\u1eb7t v\u1edbi n\u0103m r\u1ee7i ro c\u00f3 th\u1ec3 \u0111\u1ecbnh l\u01b0\u1ee3ng: T\u00ednh chu k\u1ef3 c\u1ee7a th\u1ecb tr\u01b0\u1eddng PC (37% doanh thu v\u1edbi chu k\u1ef3 thay th\u1ebf 5,7 n\u0103m), c\u1ea1nh tranh h\u1ea1 t\u1ea7ng doanh nghi\u1ec7p (bi\u00ean l\u1ee3i nhu\u1eadn g\u1ed9p gi\u1ea3m 0,5-0,7% h\u00e0ng n\u0103m), gi\u00e1n \u0111o\u1ea1n t\u1eeb nh\u00e0 cung c\u1ea5p \u0111\u00e1m m\u00e2y (c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn 7-9 t\u1ef7 USD doanh thu), d\u1ec5 t\u1ed5n th\u01b0\u01a1ng trong chu\u1ed7i cung \u1ee9ng (tr\u00ec ho\u00e3n s\u1ea3n xu\u1ea5t 8-12 tu\u1ea7n trong th\u1eddi gian gi\u00e1n \u0111o\u1ea1n), v\u00e0 th\u00e1ch th\u1ee9c gi\u1eef ch\u00e2n nh\u00e2n t\u00e0i (t\u1ef7 l\u1ec7 ngh\u1ec9 vi\u1ec7c cao h\u01a1n 15% trong c\u00e1c vai tr\u00f2 k\u1ef9 s\u01b0 ph\u1ea7n m\u1ec1m). Kho\u1ea3n n\u1ee3 18,1 t\u1ef7 USD c\u1ee7a Dell, m\u1eb7c d\u00f9 \u0111\u00e3 gi\u1ea3m 58% k\u1ec3 t\u1eeb n\u0103m 2018, y\u00eau c\u1ea7u 820 tri\u1ec7u USD thanh to\u00e1n l\u00e3i h\u00e0ng n\u0103m c\u00f3 th\u1ec3 h\u1ea1n ch\u1ebf s\u1ef1 linh ho\u1ea1t trong th\u1eddi k\u1ef3 suy tho\u00e1i kinh t\u1ebf."},{"question":"C\u00e1c giao d\u1ecbch t\u00e1ch ra c\u1ee7a Dell c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng nh\u01b0 th\u1ebf n\u00e0o \u0111\u1ebfn hi\u1ec7u su\u1ea5t c\u1ed5 phi\u1ebfu trong t\u01b0\u01a1ng lai?","answer":"C\u00e1c giao d\u1ecbch chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a Dell, bao g\u1ed3m vi\u1ec7c t\u00e1ch ra VMware \u0111\u00e3 m\u1edf kh\u00f3a 40 t\u1ef7 USD gi\u00e1 tr\u1ecb c\u1ed5 \u0111\u00f4ng, cho th\u1ea5y s\u1ef1 s\u1eb5n s\u00e0ng c\u1ee7a ban qu\u1ea3n l\u00fd trong vi\u1ec7c th\u1ef1c hi\u1ec7n c\u00e1c thay \u0111\u1ed5i c\u1ea5u tr\u00fac \u0111\u1ec3 t\u1ed1i \u0111a h\u00f3a l\u1ee3i nhu\u1eadn. Giao d\u1ecbch VMware \u0111\u00e3 gi\u1ea3m n\u1ee3 c\u1ee7a Dell xu\u1ed1ng 11,5 t\u1ef7 USD (26%) trong khi c\u1ea3i thi\u1ec7n s\u1ef1 t\u1eadp trung v\u00e0o ho\u1ea1t \u0111\u1ed9ng. C\u00e1c giao d\u1ecbch t\u01b0\u01a1ng t\u1ef1 trong t\u01b0\u01a1ng lai li\u00ean quan \u0111\u1ebfn 81% c\u1ed5 ph\u1ea7n c\u1ee7a Dell trong Secureworks (\u0111\u1ecbnh gi\u00e1 1,7 t\u1ef7 USD) ho\u1eb7c kh\u1ea3 n\u0103ng IPO m\u1ed9t ph\u1ea7n c\u1ee7a s\u1ef1 thay th\u1ebf Boomi (\u01b0\u1edbc t\u00ednh gi\u00e1 tr\u1ecb 4,5-5,2 t\u1ef7 USD) c\u00f3 th\u1ec3 m\u1edf kh\u00f3a th\u00eam gi\u00e1 tr\u1ecb c\u1ed5 \u0111\u00f4ng b\u1eb1ng c\u00e1ch l\u00e0m n\u1ed5i b\u1eadt c\u00e1c \u0111\u1ecbnh gi\u00e1 ph\u00e2n \u0111o\u1ea1n. C\u00e1c l\u1ea7n t\u00e1ch ra tr\u01b0\u1edbc \u0111\u00e2y c\u1ee7a Dell \u0111\u00e3 t\u1ea1o ra s\u1ef1 t\u0103ng gi\u00e1 c\u1ed5 phi\u1ebfu t\u1eeb 14-23% trong v\u00f2ng 12 th\u00e1ng k\u1ec3 t\u1eeb khi c\u00f4ng b\u1ed1."},{"question":"Chi\u1ebfn l\u01b0\u1ee3c ph\u00e2n b\u1ed5 danh m\u1ee5c \u0111\u1ea7u t\u01b0 t\u1ed1i \u01b0u cho c\u1ed5 phi\u1ebfu Dell l\u00e0 g\u00ec?","answer":"Ph\u00e2n b\u1ed5 t\u1ed1i \u01b0u ph\u1ee5 thu\u1ed9c v\u00e0o m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0 v\u00e0 c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 hi\u1ec7n c\u00f3 c\u1ee7a b\u1ea1n. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111a d\u1ea1ng th\u01b0\u1eddng h\u01b0\u1edfng l\u1ee3i t\u1eeb v\u1ecb tr\u00ed 3-6% trong ph\u00e2n b\u1ed5 c\u00f4ng ngh\u1ec7 c\u1ee7a h\u1ecd, cung c\u1ea5p s\u1ef1 ti\u1ebfp x\u00fac v\u1edbi xu h\u01b0\u1edbng CNTT doanh nghi\u1ec7p v\u1edbi \u0111\u1ed9 bi\u1ebfn \u0111\u1ed9ng th\u1ea5p h\u01a1n 42% so v\u1edbi c\u00e1c c\u00f4ng ty ch\u1ec9 c\u00f3 ph\u1ea7n m\u1ec1m. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1ecbnh h\u01b0\u1edbng gi\u00e1 tr\u1ecb \u0111\u1ea1t \u0111\u01b0\u1ee3c k\u1ebft qu\u1ea3 t\u1ed1t nh\u1ea5t v\u1edbi c\u00e1c v\u1ecb tr\u00ed 5-7% \u0111\u01b0\u1ee3c mua d\u01b0\u1edbi 10 l\u1ea7n d\u00f2ng ti\u1ec1n t\u1ef1 do, trong khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u0103ng tr\u01b0\u1edfng th\u01b0\u1eddng gi\u1edbi h\u1ea1n Dell \u1edf m\u1ee9c 3-4% trong khi nh\u1ea5n m\u1ea1nh c\u00e1c s\u00e1ng ki\u1ebfn AI v\u00e0 \u0111i\u1ec7n to\u00e1n bi\u00ean c\u1ee7a n\u00f3. C\u00f4ng c\u1ee5 m\u00f4 h\u00ecnh h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a Pocket Option ch\u1ec9 ra r\u1eb1ng ph\u00e2n b\u1ed5 Dell 4% \u0111\u01b0\u1ee3c th\u00eam v\u00e0o danh m\u1ee5c \u0111\u1ea7u t\u01b0 ti\u00eau chu\u1ea9n 60\/40 \u0111\u00e3 c\u1ea3i thi\u1ec7n t\u1ef7 l\u1ec7 Sharpe l\u00ean 0,17 trong khi gi\u1ea3m m\u1ee9c s\u1ee5t gi\u1ea3m t\u1ed1i \u0111a xu\u1ed1ng 2,3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m trong giai \u0111o\u1ea1n 2020-2022."}],"faq_source":{"label":"FAQ","type":"repeater","formatted_value":[{"question":"Nh\u1eefng y\u1ebfu t\u1ed1 n\u00e0o \u1ea3nh h\u01b0\u1edfng m\u1ea1nh m\u1ebd nh\u1ea5t \u0111\u1ebfn hi\u1ec7u su\u1ea5t c\u1ed5 phi\u1ebfu c\u1ee7a Dell?","answer":"Hi\u1ec7u su\u1ea5t c\u1ed5 phi\u1ebfu c\u1ee7a Dell ch\u1ee7 y\u1ebfu \u0111\u01b0\u1ee3c th\u00fac \u0111\u1ea9y b\u1edfi xu h\u01b0\u1edbng chi ti\u00eau IT doanh nghi\u1ec7p (t\u01b0\u01a1ng quan 37%), chu k\u1ef3 thay th\u1ebf PC (t\u01b0\u01a1ng quan 32%), t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng trung t\u00e2m d\u1eef li\u1ec7u (t\u01b0\u01a1ng quan 28%), v\u00e0 th\u1ef1c hi\u1ec7n trong c\u00e1c c\u00f4ng ngh\u1ec7 m\u1edbi n\u1ed5i (t\u01b0\u01a1ng quan 24%). L\u1ee3i nhu\u1eadn h\u00e0ng qu\u00fd th\u1ec3 hi\u1ec7n ti\u1ebfn b\u1ed9 trong c\u00e1c d\u1ecbch v\u1ee5 c\u00f3 bi\u00ean l\u1ee3i nhu\u1eadn cao h\u01a1n v\u00e0 gi\u1ea3i ph\u00e1p doanh nghi\u1ec7p th\u01b0\u1eddng k\u00edch ho\u1ea1t c\u00e1c bi\u1ebfn \u0111\u1ed9ng gi\u00e1 t\u00edch c\u1ef1c t\u1eeb 4-6%, trong khi m\u1ea5t th\u1ecb ph\u1ea7n trong c\u00e1c ph\u00e2n kh\u00fac c\u1ed1t l\u00f5i ho\u1eb7c n\u00e9n bi\u00ean l\u1ee3i nhu\u1eadn v\u01b0\u1ee3t qu\u00e1 0,5 \u0111i\u1ec3m ph\u1ea7n tr\u0103m c\u00f3 th\u1ec3 g\u00e2y ra gi\u1ea3m 7-9%. C\u1ed5 phi\u1ebfu cho th\u1ea5y \u0111\u1ed9 bi\u1ebfn \u0111\u1ed9ng th\u1ea5p h\u01a1n 42% so v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 ph\u1ea7n m\u1ec1m thu\u1ea7n t\u00fay trong c\u00e1c v\u00f2ng quay c\u1ee7a ng\u00e0nh."},{"question":"Ch\u01b0\u01a1ng tr\u00ecnh c\u1ed5 t\u1ee9c c\u1ee7a Dell so v\u1edbi c\u00e1c c\u00f4ng ty c\u00f4ng ngh\u1ec7 kh\u00e1c nh\u01b0 th\u1ebf n\u00e0o?","answer":"Ch\u01b0\u01a1ng tr\u00ecnh c\u1ed5 t\u1ee9c c\u1ee7a Dell, \u0111\u01b0\u1ee3c kh\u1edfi x\u01b0\u1edbng v\u00e0o th\u00e1ng 2 n\u0103m 2022, cung c\u1ea5p l\u1ee3i su\u1ea5t 1,8% so v\u1edbi m\u1ee9c trung b\u00ecnh 1,3% c\u1ee7a ng\u00e0nh c\u00f4ng ngh\u1ec7 trong khi duy tr\u00ec t\u1ef7 l\u1ec7 chi tr\u1ea3 b\u1ea3o th\u1ee7 26% so v\u1edbi 32% c\u1ee7a ng\u00e0nh. C\u00f4ng ty \u0111\u00e3 t\u0103ng c\u1ed5 t\u1ee9c 12% h\u00e0ng n\u0103m so v\u1edbi t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng trung b\u00ecnh 8% c\u1ee7a ng\u00e0nh c\u00f4ng ngh\u1ec7. C\u1ed5 t\u1ee9c c\u1ee7a Dell \u0111\u01b0\u1ee3c b\u1ea3o \u0111\u1ea3m 3,7 l\u1ea7n b\u1edfi d\u00f2ng ti\u1ec1n t\u1ef1 do, cung c\u1ea5p bi\u00ean \u0111\u1ed9 an to\u00e0n \u0111\u00e1ng k\u1ec3 so v\u1edbi IBM (2,8 l\u1ea7n), Intel (2,3 l\u1ea7n) v\u00e0 Cisco (3,1 l\u1ea7n). C\u00e1ch ti\u1ebfp c\u1eadn n\u00e0y c\u00e2n b\u1eb1ng gi\u1eefa vi\u1ec7c t\u1ea1o thu nh\u1eadp v\u00e0 s\u1ef1 linh ho\u1ea1t t\u00e0i ch\u00ednh cho c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 R&D h\u00e0ng n\u0103m tr\u1ecb gi\u00e1 4,5 t\u1ef7 USD c\u1ee7a Dell."},{"question":"Nh\u1eefng r\u1ee7i ro l\u1edbn nh\u1ea5t \u0111\u1ed1i v\u1edbi m\u00f4 h\u00ecnh kinh doanh c\u1ee7a Dell l\u00e0 g\u00ec?","answer":"Dell \u0111\u1ed1i m\u1eb7t v\u1edbi n\u0103m r\u1ee7i ro c\u00f3 th\u1ec3 \u0111\u1ecbnh l\u01b0\u1ee3ng: T\u00ednh chu k\u1ef3 c\u1ee7a th\u1ecb tr\u01b0\u1eddng PC (37% doanh thu v\u1edbi chu k\u1ef3 thay th\u1ebf 5,7 n\u0103m), c\u1ea1nh tranh h\u1ea1 t\u1ea7ng doanh nghi\u1ec7p (bi\u00ean l\u1ee3i nhu\u1eadn g\u1ed9p gi\u1ea3m 0,5-0,7% h\u00e0ng n\u0103m), gi\u00e1n \u0111o\u1ea1n t\u1eeb nh\u00e0 cung c\u1ea5p \u0111\u00e1m m\u00e2y (c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn 7-9 t\u1ef7 USD doanh thu), d\u1ec5 t\u1ed5n th\u01b0\u01a1ng trong chu\u1ed7i cung \u1ee9ng (tr\u00ec ho\u00e3n s\u1ea3n xu\u1ea5t 8-12 tu\u1ea7n trong th\u1eddi gian gi\u00e1n \u0111o\u1ea1n), v\u00e0 th\u00e1ch th\u1ee9c gi\u1eef ch\u00e2n nh\u00e2n t\u00e0i (t\u1ef7 l\u1ec7 ngh\u1ec9 vi\u1ec7c cao h\u01a1n 15% trong c\u00e1c vai tr\u00f2 k\u1ef9 s\u01b0 ph\u1ea7n m\u1ec1m). Kho\u1ea3n n\u1ee3 18,1 t\u1ef7 USD c\u1ee7a Dell, m\u1eb7c d\u00f9 \u0111\u00e3 gi\u1ea3m 58% k\u1ec3 t\u1eeb n\u0103m 2018, y\u00eau c\u1ea7u 820 tri\u1ec7u USD thanh to\u00e1n l\u00e3i h\u00e0ng n\u0103m c\u00f3 th\u1ec3 h\u1ea1n ch\u1ebf s\u1ef1 linh ho\u1ea1t trong th\u1eddi k\u1ef3 suy tho\u00e1i kinh t\u1ebf."},{"question":"C\u00e1c giao d\u1ecbch t\u00e1ch ra c\u1ee7a Dell c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng nh\u01b0 th\u1ebf n\u00e0o \u0111\u1ebfn hi\u1ec7u su\u1ea5t c\u1ed5 phi\u1ebfu trong t\u01b0\u01a1ng lai?","answer":"C\u00e1c giao d\u1ecbch chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a Dell, bao g\u1ed3m vi\u1ec7c t\u00e1ch ra VMware \u0111\u00e3 m\u1edf kh\u00f3a 40 t\u1ef7 USD gi\u00e1 tr\u1ecb c\u1ed5 \u0111\u00f4ng, cho th\u1ea5y s\u1ef1 s\u1eb5n s\u00e0ng c\u1ee7a ban qu\u1ea3n l\u00fd trong vi\u1ec7c th\u1ef1c hi\u1ec7n c\u00e1c thay \u0111\u1ed5i c\u1ea5u tr\u00fac \u0111\u1ec3 t\u1ed1i \u0111a h\u00f3a l\u1ee3i nhu\u1eadn. Giao d\u1ecbch VMware \u0111\u00e3 gi\u1ea3m n\u1ee3 c\u1ee7a Dell xu\u1ed1ng 11,5 t\u1ef7 USD (26%) trong khi c\u1ea3i thi\u1ec7n s\u1ef1 t\u1eadp trung v\u00e0o ho\u1ea1t \u0111\u1ed9ng. C\u00e1c giao d\u1ecbch t\u01b0\u01a1ng t\u1ef1 trong t\u01b0\u01a1ng lai li\u00ean quan \u0111\u1ebfn 81% c\u1ed5 ph\u1ea7n c\u1ee7a Dell trong Secureworks (\u0111\u1ecbnh gi\u00e1 1,7 t\u1ef7 USD) ho\u1eb7c kh\u1ea3 n\u0103ng IPO m\u1ed9t ph\u1ea7n c\u1ee7a s\u1ef1 thay th\u1ebf Boomi (\u01b0\u1edbc t\u00ednh gi\u00e1 tr\u1ecb 4,5-5,2 t\u1ef7 USD) c\u00f3 th\u1ec3 m\u1edf kh\u00f3a th\u00eam gi\u00e1 tr\u1ecb c\u1ed5 \u0111\u00f4ng b\u1eb1ng c\u00e1ch l\u00e0m n\u1ed5i b\u1eadt c\u00e1c \u0111\u1ecbnh gi\u00e1 ph\u00e2n \u0111o\u1ea1n. C\u00e1c l\u1ea7n t\u00e1ch ra tr\u01b0\u1edbc \u0111\u00e2y c\u1ee7a Dell \u0111\u00e3 t\u1ea1o ra s\u1ef1 t\u0103ng gi\u00e1 c\u1ed5 phi\u1ebfu t\u1eeb 14-23% trong v\u00f2ng 12 th\u00e1ng k\u1ec3 t\u1eeb khi c\u00f4ng b\u1ed1."},{"question":"Chi\u1ebfn l\u01b0\u1ee3c ph\u00e2n b\u1ed5 danh m\u1ee5c \u0111\u1ea7u t\u01b0 t\u1ed1i \u01b0u cho c\u1ed5 phi\u1ebfu Dell l\u00e0 g\u00ec?","answer":"Ph\u00e2n b\u1ed5 t\u1ed1i \u01b0u ph\u1ee5 thu\u1ed9c v\u00e0o m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0 v\u00e0 c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 hi\u1ec7n c\u00f3 c\u1ee7a b\u1ea1n. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111a d\u1ea1ng th\u01b0\u1eddng h\u01b0\u1edfng l\u1ee3i t\u1eeb v\u1ecb tr\u00ed 3-6% trong ph\u00e2n b\u1ed5 c\u00f4ng ngh\u1ec7 c\u1ee7a h\u1ecd, cung c\u1ea5p s\u1ef1 ti\u1ebfp x\u00fac v\u1edbi xu h\u01b0\u1edbng CNTT doanh nghi\u1ec7p v\u1edbi \u0111\u1ed9 bi\u1ebfn \u0111\u1ed9ng th\u1ea5p h\u01a1n 42% so v\u1edbi c\u00e1c c\u00f4ng ty ch\u1ec9 c\u00f3 ph\u1ea7n m\u1ec1m. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1ecbnh h\u01b0\u1edbng gi\u00e1 tr\u1ecb \u0111\u1ea1t \u0111\u01b0\u1ee3c k\u1ebft qu\u1ea3 t\u1ed1t nh\u1ea5t v\u1edbi c\u00e1c v\u1ecb tr\u00ed 5-7% \u0111\u01b0\u1ee3c mua d\u01b0\u1edbi 10 l\u1ea7n d\u00f2ng ti\u1ec1n t\u1ef1 do, trong khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u0103ng tr\u01b0\u1edfng th\u01b0\u1eddng gi\u1edbi h\u1ea1n Dell \u1edf m\u1ee9c 3-4% trong khi nh\u1ea5n m\u1ea1nh c\u00e1c s\u00e1ng ki\u1ebfn AI v\u00e0 \u0111i\u1ec7n to\u00e1n bi\u00ean c\u1ee7a n\u00f3. C\u00f4ng c\u1ee5 m\u00f4 h\u00ecnh h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a Pocket Option ch\u1ec9 ra r\u1eb1ng ph\u00e2n b\u1ed5 Dell 4% \u0111\u01b0\u1ee3c th\u00eam v\u00e0o danh m\u1ee5c \u0111\u1ea7u t\u01b0 ti\u00eau chu\u1ea9n 60\/40 \u0111\u00e3 c\u1ea3i thi\u1ec7n t\u1ef7 l\u1ec7 Sharpe l\u00ean 0,17 trong khi gi\u1ea3m m\u1ee9c s\u1ee5t gi\u1ea3m t\u1ed1i \u0111a xu\u1ed1ng 2,3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m trong giai \u0111o\u1ea1n 2020-2022."}]}},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Dell c\u00f3 ph\u1ea3i l\u00e0 c\u1ed5 phi\u1ebfu t\u1ed1t \u0111\u1ec3 mua v\u00e0o n\u0103m 2025? 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