Morgan Stanley and Dell (DELL.US) COO have an in-depth discussion: "This time is different"—AI agents are not just another refresh cycle, but TAM expansion. The probability of a bull market scenario with a $756 price target is rising.

```htmlAccording to Golden Ten Data APP, Morgan Stanley released a research report stating that after a one-on-one conversation at Dell headquarters with Chief Operating Officer Jeff Clarke, the bank gained a deeper understanding of its bullish logic on Dell but still maintained a "neutral" rating and a target price of $511. The core debate of the report is whether the AI agent trend will bring yet another peak in the hardware cycle or lead to years of structural prosperity in on-premise infrastructure. Morgan Stanley explicitly stated that the meeting prompted a reassessment of its previously bearish outlook and believes that the probability of reaching the $756 bull market scenario in the next 12 months has increased.```