Dell Technologies sees FY26 gross margin down 100 basis points

Says IT spending is expected to grow. Says expects ISG to grow high-teens in FY26, driven by $15B dollars of AI server shipments and continued growth in traditional server and storage. Says expects CSG to grow low-to-mid single digits in FY26, more weighted towards the second half of the year. Says expects the combination of ISG and CSG to grow 10% at the midpoint. Says navigated an incredibly dynamic AI environment. Says added five platforms to its AI-optimized portfolio. Comments and guidance taken from Q4 earnings conference call.