{"id":58109,"date":"2026-03-17T12:15:55","date_gmt":"2026-03-17T12:15:55","guid":{"rendered":"https:\/\/crypto-globe.com\/?p=58109"},"modified":"2026-03-17T12:26:58","modified_gmt":"2026-03-17T12:26:58","slug":"dell-v-ere-umelej-inteligencie-prekrocenie-ocakavani-a-miliardove-ocakavania-trzieb","status":"publish","type":"post","link":"https:\/\/crypto-globe.com\/sk\/dell-v-ere-umelej-inteligencie-prekrocenie-ocakavani-a-miliardove-ocakavania-trzieb\/","title":{"rendered":"Dell v \u00e9re umelej inteligencie: Prekro\u010denie o\u010dak\u00e1van\u00ed a miliardov\u00e9 o\u010dak\u00e1vania tr\u017eieb"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>osobn\u00fdch po\u010d\u00edta\u010dov. V roku 2026 sa v\u0161ak tento technologick\u00fd veter\u00e1n definit\u00edvne transformoval na k\u013e\u00fa\u010dov\u00e9ho hr\u00e1\u010da infra\u0161trukt\u00fary pre umel\u00fa inteligenciu, \u010do potvrdzuj\u00fa aj jeho najnov\u0161ie finan\u010dn\u00e9 v\u00fdsledky. Po zverejnen\u00ed spr\u00e1vy za \u0161tvrt\u00fd fisk\u00e1lny kvart\u00e1l akcie spolo\u010dnosti Dell reagovali raketov\u00fdm n\u00e1rastom o 22 %,* \u010d\u00edm poslali jasn\u00fd sign\u00e1l, \u017ee trh vklad\u00e1 do jej novej strat\u00e9gie obrovsk\u00fa d\u00f4veru. Vypl\u00fdva to z anal\u00fdzy Davida Matulaya, analytika InvestingFox, obchodnej zna\u010dky spolo\u010dnosti CAPITAL MARKETS, o.c.p., a.s., ktor\u00e1 m\u00e1 od N\u00e1rodnej banky Slovenska povolenie na poskytovanie investi\u010dn\u00fdch slu\u017eieb v zmysle z\u00e1kona o cenn\u00fdch papieroch.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Finan\u010dn\u00e1 sila<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.dell.com\/cs-cz\/lp\" target=\"_blank\" rel=\"noreferrer noopener\">Spolo\u010dnos\u0165 Dell<\/a> v uplynulom kvart\u00e1li nielen \u017ee splnila o\u010dak\u00e1vania analytikou osloven\u00fdch London Stock Exchange Group (LSEG), ale v mnoh\u00fdch oh\u013eadoch ich s preh\u013eadom prekro\u010dila. Po\u010dn\u00fac ziskom na akcii (EPS), ten vzr\u00e1stol na \u00farove\u0148 3,89 USD, \u010d\u00edm trhom odhadovan\u00fa \u00farove\u0148 3,53 USD v\u00fdrazne prekonal. Podobne pozit\u00edvny v\u00fdvoj zaznamenali aj tr\u017eby, ktor\u00e9 v medziro\u010dnom porovnan\u00ed vzr\u00e1stli o takmer 40 %, dosiahli 33,38 miliardy USD, \u010d\u00edm konsenzus analytikou prekro\u010dili o viac ako 1,5 miliardy USD.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/tradeinfo.cz\/wp-content\/uploads\/2026\/03\/image-2-1024x242.png\" alt=\"\" class=\"wp-image-24934\" title=\"image - Tradeinfo.cz\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">V\u00fdkonnos\u0165 ceny akci\u00ed spolo\u010dnosti Dell za posledn\u00fdch p\u00e4\u0165 rokov* Zdroj: TradingView<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fundament\u00e1lna sila spolo\u010dnosti za rok 2026 investorov nepochybne pote\u0161ila, ale prim\u00e1rnym sp\u00fa\u0161\u0165a\u010dom nasleduj\u00faceho rastu ceny akci\u00ed bol v\u00fdh\u013ead na nadch\u00e1dzaj\u00faci fisk\u00e1lny rok 2027. Zatia\u013e \u010do trh stanovil progn\u00f3zu tr\u017eieb na \u00farovni takmer 125 mili\u00e1rd USD, management spolo\u010dnosti Dell sebavedomne nastavil latu v rozmedz\u00ed 138 a\u017e 142 mili\u00e1rd USD. Tento optimizmus poch\u00e1dza predov\u0161etk\u00fdm z dopytu po AI serveroch, ktor\u00e9 by mali v roku 2027 generova\u0165 tr\u017eby vo v\u00fd\u0161ke 50 mili\u00e1rd USD, \u010do predstavuje viac ako dvojn\u00e1sobek v porovnan\u00ed s predch\u00e1dzaj\u00facim rokom. [1]<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Boj o pam\u00e4\u0165<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Technologick\u00fd svet v s\u00fa\u010dasnosti \u010del\u00ed historick\u00e9mu nedostatku pam\u00e4\u0165ov\u00fdch \u010dipov, \u010do vytv\u00e1raj\u00fa v celom sektore zna\u010dn\u00e9 nap\u00e4tie. V\u00fdrobcovia pam\u00e4te toti\u017e prioritne dod\u00e1vaj\u00fa vysoko-priepustn\u00e9 komponenty (HBM) pre v\u00fdrobcov \u010dipov ako Nvidia \u010di AMD, pr\u00edpadne pre cloudov\u00e9 giganty ako napr\u00edklad Google. Na tradi\u010dn\u00fdch v\u00fdrobcov hardwaru tak ost\u00e1va obmedzen\u00e9 mno\u017estvo komponentov, \u010do vedie k predl\u017eovaniu dodac\u00edch leh\u00f4t a drastick\u00e9mu n\u00e1rastu cien.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dell sa k tejto kr\u00edze postavil proakt\u00edvne a u\u017e po\u010das minul\u00e9ho roka prist\u00fapil k s\u00e9rii zvy\u0161ovania cien svojich produktov. Finan\u010dn\u00fd riadite\u013e David Kennedy objasnil, \u017ee tieto kroky boli nevyhnutn\u00e9 na kompenz\u00e1ciu vy\u0161\u0161\u00edch n\u00e1kladov a ochranu mar\u017e\u00ed spolo\u010dnosti. Opera\u010dn\u00fd riadite\u013e Jeff Clarke zd\u00f4raznil, \u017ee k\u013e\u00fa\u010dom k \u00faspechu je \u00fazka spolupr\u00e1ca s partnermi, ktor\u00e1 spolo\u010dnosti umo\u017e\u0148uje flexibilitu v dod\u00e1vate\u013eskom re\u0165azci, \u010d\u00edm sa Dell l\u00ed\u0161i od konkurencie, ktor\u00e1 \u010dasto z\u00e1pas\u00ed s nepreparovanos\u0165ou na cenov\u00e9 \u0161oky.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Divergencia trhu<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Pri poh\u013eade na konkuren\u010dn\u00e9 prostredie je kontrast medzi hlavn\u00fdmi hr\u00e1\u010dmi priamo zar\u00e1\u017eaj\u00faci. Zatia\u013e \u010do Dell na z\u00e1klade fundament\u00e1lnych parametrov rastie, akcie spolo\u010dnosti HP sa prepadli na svoje 52-t\u00fd\u017ed\u0148ov\u00e9 minimum. * Prim\u00e1rnym probl\u00e9mom HP je predov\u0161etk\u00fdm fakt, \u017ee n\u00e1klady na pam\u00e4\u0165 tvoria pribli\u017ene 35 % z celkovej ceny v\u00fdroby po\u010d\u00edta\u010da, \u010do je dvojn\u00e1sobek oproti stavu pred rokom. Neschopnos\u0165 dostato\u010dne r\u00fdchlo prenies\u0165 tento 100%-n\u00fd n\u00e1rast n\u00e1kladov na koncov\u00e9ho z\u00e1kazn\u00edka tak bohu\u017eia\u013e odhalila zranite\u013enos\u0165 ich obchodn\u00e9ho modelu.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/forex.sk\/wp-content\/uploads\/2026\/03\/image-1024x242.png\" alt=\"\" class=\"wp-image-77150\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">V\u00fdkonnos\u0165 ceny akci\u00ed spolo\u010dnosti HP za posledn\u00fdch p\u00e4\u0165 rokov* Zdroj: TradingView<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bank of America v d\u00f4sledku s\u00edce upozor\u0148uje na riziko dopytu po elasticite, teda obavy, \u017ee pr\u00edli\u0161 drah\u00e9 po\u010d\u00edta\u010de m\u00f4\u017eu odradi\u0165 \u010das\u0165 z\u00e1kazn\u00edkov, no napriek tomu zv\u00fd\u0161ila cie\u013eov\u00fa cenu pre akcie Dellu z 135 USD na 155 USD so zachovan\u00fdm investi\u010dn\u00fdm odpor\u00fa\u010dan\u00edm \u201eBuy&#8220;. [1] Dell toti\u017e na rozdiel od HP \u00faspe\u0161ne transformoval svoju identitu z pred\u00e1vaj\u00faceho hardwaru na poskytovate\u013ea komplexn\u00fdch AI rie\u0161en\u00ed, \u010d\u00edm si svoje miesto v portf\u00f3li\u00e1ch in\u0161titucion\u00e1lnych investorov zabezpe\u010dil.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Z\u00e1ver<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Ak sa spolo\u010dnosti Dell podar\u00ed splni\u0165 ambici\u00f3zny cie\u013e zdvojn\u00e1sobenia pr\u00edjmov z AI serverov, m\u00f4\u017ee sa sta\u0165 fundament\u00e1lnym pilierom infra\u0161trukt\u00fary novej digit\u00e1lnej \u00e9ry. Hoci ost\u00e1vaj\u00fa ot\u00e1zky oh\u013eadom toho, ako dlho bud\u00fa z\u00e1kazn\u00edci ochotn\u00ed akceptova\u0165 rast\u00face ceny hardwaru, moment\u00e1lna dynamika hr\u00e1 jednozna\u010dne v prospech tejto dlhodobej legendy z Texasu.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>David Matulay, analytik <\/strong><a href=\"https:\/\/investingfox.com\/cs\"><strong>InvestingFox<\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/forex.sk\/wp-content\/uploads\/2026\/03\/David-Matulay-1-1024x912.jpg\" alt=\"\" class=\"wp-image-77151\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">InvestingFox je obchodn\u00e1 zna\u010dka spolo\u010dnosti CAPITAL MARKETS, o.c.p., a.s. so s\u00eddlom Sl\u00e1vi\u010die \u00fadolie 106, Bratislava \u2013 mestsk\u00e1 \u010das\u0165 Star\u00e9 Mesto 811 02. Spolo\u010dnos\u0165 je zap\u00edsan\u00e1 v Obchodnom registri Mestsk\u00e9ho s\u00fadu Bratislava III, oddiel: Sa, vlo\u017eka \u010d\u00edslo: 4295\/B, I\u010cO: 36 853 054, DI\u010c: 2022505419.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CAPITAL MARKETS, o.c.p., a.s. je obchodn\u00edk s cenn\u00fdmi papiermi pod\u013ea \u00a7 55 odst. 1 z\u00e1kona \u010d. 566\/2001 Z. z. o cenn\u00fdch papieroch a investi\u010dn\u00fdch slu\u017eb\u00e1ch a o zmene a doplnen\u00ed niektor\u00fdch z\u00e1konov v znen\u00ed neskor\u0161\u00edch predpisov (\u010falej len \u201ez\u00e1kon o cenn\u00fdch papieroch&#8220;). Spolo\u010dnosti CAPITAL MARKETS, o.c.p., a.s. bolo d\u0148a 30. 10. 2007 udelen\u00e9 rozhodnut\u00edm N\u00e1rodnej banky Slovenska \u010d. OPK-2297\/2007-PLP povolenie na poskytovanie investi\u010dn\u00fdch slu\u017eieb v zmysle \u00a7 54 odst. 2 v spojen\u00ed s \u00a7 59 odst. 2 a 3 z\u00e1kona o cenn\u00fdch papieroch, ktor\u00e9 bolo v s\u00falade s ustanoveniami z\u00e1kona o cenn\u00fdch papieroch roz\u0161\u00edren\u00e9 rozhodnut\u00edm \u010d. OPK-1830\/2008-PLP zo d\u0148a 21. 04. 2008, rozhodnut\u00edm \u010d. OPK-11601-1\/2008 zo d\u0148a 28. 01. 2009, rozhodnut\u00edm \u010d. ODT-5059-3\/2012 zo d\u0148a 23. 07. 2012 a rozhodnut\u00edm \u010d. ODT-9332\/2014-1 zo d\u0148a 21. 10. 2014.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">*Minul\u00e1 v\u00fdkonnos\u0165 nie je z\u00e1rukou bud\u00facich v\u00fdsledkov.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">[1] Tieto vyhl\u00e1senia nezaru\u010duj\u00fa bud\u00facu v\u00fdkonnos\u0165. Vyhliadkov\u00e9 vyhl\u00e1senia svojou povahou zah\u0155\u0148aj\u00fa riziko a neistotu, preto\u017ee s\u00favisia s bud\u00facimi udalos\u0165ami a okolnos\u0165ami, ktor\u00e9 sa nedaj\u00fa predpoveda\u0165 a skuto\u010dn\u00fd v\u00fdvoj a v\u00fdsledky sa m\u00f4\u017eu v\u00fdrazne l\u00ed\u0161i\u0165 od v\u00fdsledkov vyjadren\u00fdch alebo implikovan\u00fdch v ak\u00fdchko\u013evek vyhliadkov\u00fdch vyhl\u00e1seniach.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Upozornenie! Tento marketingov\u00fd materi\u00e1l nie je a nesmie by\u0165 ch\u00e1pen\u00fd ako investi\u010dn\u00e9 poradenstvo. \u00dadaje, ktor\u00e9 sa t\u00fdkaj\u00fa minulosti, nie s\u00fa z\u00e1rukou bud\u00facich v\u00fdnosov. Investovanie v cudzej mene m\u00f4\u017ee ovplyvni\u0165 v\u00fdnosy v d\u00f4sledku v\u00fdkyvov. V\u0161etky obchody s cenn\u00fdmi papiermi m\u00f4\u017eu vies\u0165 tak k ziskom, ako aj k strat\u00e1m. Vyhliadkov\u00e9 vyhl\u00e1senia predstavuj\u00fa predpoklady a aktu\u00e1lne o\u010dak\u00e1vania, ktor\u00e9 nemusia by\u0165 presn\u00e9, alebo vych\u00e1dzaj\u00fa z aktu\u00e1lneho ekonomick\u00e9ho prostredia, ktor\u00e9 sa m\u00f4\u017ee zmeni\u0165. Tieto vyhl\u00e1senia nezaru\u010duj\u00fa bud\u00facu v\u00fdkonnos\u0165. InvestingFox je obchodn\u00e1 zna\u010dka spolo\u010dnosti CAPITAL MARKETS, o.c.p., a.s. regulovan\u00e1 N\u00e1rodnou bankou Slovenska.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Zdroje:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/investors.delltechnologies.com\">https:\/\/investors.delltechnologies.com<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/investors.delltechnologies.com\/static-files\/cbb4c668-2613-4d5c-a7dc-98fe4592b5a5\">https:\/\/investors.delltechnologies.com\/static-files\/cbb4c668-2613-4d5c-a7dc-98fe4592b5a5<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.cnbc.com\/2026\/02\/27\/dell-stock-earnings-memory-shortage-ai-servers.html\">https:\/\/www.cnbc.com\/2026\/02\/27\/dell-stock-earnings-memory-shortage-ai-servers.html<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">*Jedn\u00e1 sa o platen\u00fa spolupr\u00e1cu<\/p>\n","protected":false},"excerpt":{"rendered":"<p>osobn\u00fdch po\u010d\u00edta\u010dov. V roku 2026 sa v\u0161ak tento technologick\u00fd veter\u00e1n definit\u00edvne transformoval na k\u013e\u00fa\u010dov\u00e9ho hr\u00e1\u010da infra\u0161trukt\u00fary pre umel\u00fa inteligenciu, \u010do potvrdzuj\u00fa aj jeho najnov\u0161ie finan\u010dn\u00e9 v\u00fdsledky. Po zverejnen\u00ed spr\u00e1vy za \u0161tvrt\u00fd fisk\u00e1lny kvart\u00e1l akcie spolo\u010dnosti Dell reagovali raketov\u00fdm n\u00e1rastom o 22 %,* \u010d\u00edm poslali jasn\u00fd sign\u00e1l, \u017ee trh vklad\u00e1 do jej novej strat\u00e9gie obrovsk\u00fa d\u00f4veru. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":58103,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":"","footnotes":""},"categories":[167],"tags":[519,705,707],"class_list":["post-58109","post","type-post","status-publish","format-standard","has-post-thumbnail","category-odporucame","tag-ai-5","tag-dell","tag-investingfox"],"aioseo_notices":[],"yasr_visitor_votes":{"stars_attributes":{"read_only":false,"span_bottom":false},"number_of_votes":0,"sum_votes":0},"aioseo_meta":{"seo_title":"Dell v \u00e9re umelej inteligencie: Prekro\u010denie o\u010dak\u00e1van\u00ed #separator_sa","meta_description":"Dell v roku 2026 sa transformoval na k\u013e\u00fa\u010dov\u00e9ho hr\u00e1\u010da infra\u0161trukt\u00fary AI. Akcie vzr\u00e1stli o 22 % po prekro\u010den\u00ed o\u010dak\u00e1van\u00ed, tr\u017eby dosiahli 33,38 mili\u00e1rd USD. #separator_sa","focus_keyword":""},"_links":{"self":[{"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/posts\/58109","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/comments?post=58109"}],"version-history":[{"count":1,"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/posts\/58109\/revisions"}],"predecessor-version":[{"id":58117,"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/posts\/58109\/revisions\/58117"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/media\/58103"}],"wp:attachment":[{"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/media?parent=58109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/categories?post=58109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/tags?post=58109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}