Shares of Dell (NYSE:DELL) recovered from earlier losses despite a decline in the overall market. This is likely attributed to reports claiming that the company might discontinue using chips made in China. Dell also wants its suppliers to become less reliant on China as well.
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With tensions between the U.S. and China rising, it makes sense for the company to simply avoid any potential headaches by shifting away from the country. This is especially true since the U.S. is attempting to incentivize domestic production.
Overall, Wall Street analysts have a consensus price target of $49.50 on DELL stock, implying almost 21% upside potential, as indicated by the graphic above.