Dell Technologies V3 Quarterly YoY Relationship Signal

Generated: 2026-07-23

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Company-only V3 scope: AS-led candidates passing the locked relationship contract are automatically approved. Macro, commodity/input-price, and text/commentary signals remain deferred. Historical qualification is recomputed at true same period; forecast timing is handled separately.

Sections
Executive SummaryPrimary Overview: Quarterly YoY Relationship SignalRun Metadata

Executive Summary Back to top

What This Pack Is For

Dell Technologies target growth is compared with pre-labelled peer, demand, channel/inventory, and upstream company baskets using the V3 AS-led approval universe.

Analysis

  • Target and candidate vectors are quarter-versus-prior-year-quarter signals from the common field contracts. This is the relationship-scoring basis and is intentionally separate from the established V2 rolling-4Q growth dashboard.
  • Each approved source is standardized independently before the equal-weight available-source composite is calculated.
  • A composite requires at least one active approved source. Single-source composites are shown and explicitly identified by their 1/1 breadth; they should be read as lower-confidence signals. Filled markers show full coverage; open markers show valid partial coverage; quarters with no active source are left blank.
  • Primary target and aggregate paths connect between observed points across missing spans for readability, but no observation marker is drawn and missing values remain excluded from scoring.
  • Absolute target growth remains in the card metadata; all visible time-series charts use z-scores so mixed units are never averaged directly.
  • Correlations validate the semantic driver stack; they do not establish causality.

Primary Overview: Quarterly YoY Relationship Signal Back to top

Same-period z-score view. The left chart compares target momentum with the approved available-source composite; the right chart shows the same composite and the strongest bucket-diverse sources. The composite is the equal-weight mean of available approved sources and requires at least one active source. A 1/1 composite is displayed but is explicitly lower breadth than a multi-company signal. Filled markers denote full coverage and open markers denote valid partial coverage. A valid source composite remains visible inside the target-history window even when that target quarter is missing. Primary target and aggregate lines connect between observed points across missing spans without adding points or filling missing values; raw source diagnostics retain their actual gaps. Quarters with no active approved source remain blank. An isolated black diamond, when available, is the latest target NTM/LTM revenue consensus standardized against the displayed target history and positioned four quarters after the latest actual. Organic and quarterly-YoY targets label this explicitly as a revenue-consensus proxy. The marker is display-only and is excluded from scoring. Expand each source diagnostic to inspect every approved company and metric.

Client Solutions Group

sources n=3 / companies n=3Industry growth=2, Upstream input=1minimum composite breadth 1/3active sources at latest target 1/3latest target actual +16.8%latest target z +0.9latest composite z +0.7 at 26 Q2partial-coverage observations 3target/composite overlap 33 quarters

Target zTarget zSame-period composite zSame-period composite z-2.4-1.20.11.42.617 Q219 Q120 Q422 Q424 Q326 Q2
Composite zComposite zHP Inc · Total RevenueHP IncTotal RevenueMicron Technology · Finished GoodsMicron TechnologyFinished GoodsLenovo Group · Segment revenue: AmericasLenovo GroupSegment revenue: Americas-3.0-1.30.32.03.717 Q219 Q120 Q422 Q424 Q326 Q2
Segment source diagnostics
target bucket company segment_or_metric universe field source_type corr_obs same_q_corr fdr_q_diagnostic fdr_above_10pct_reference
Client Solutions Group industry_growth Lenovo Group Segment revenue: Americas 992 HK EQUITY sales_rev_turn company_modl_segment 32 0.652141 0.000148 False
Client Solutions Group industry_growth HP Inc Total Revenue HPQ UN EQUITY is_comp_sales company_reported_metric 31 0.798588 0.000001 False
Client Solutions Group upstream_input Micron Technology Finished Goods MU UW EQUITY invtry_finished_goods company_reported_metric 32 -0.646250 0.001227 False

Infrastructure Solutions Group

sources n=19 / companies n=19Industry growth=7, Downstream demand=5, Upstream input=7minimum composite breadth 1/19active sources at latest target 10/19latest target actual +181.2%latest target z +4.5latest composite z +1.3 at 26 Q2partial-coverage observations 26target/composite overlap 31 quarters

Target zTarget zSame-period composite zSame-period composite z-1.50.21.83.45.117 Q419 Q321 Q222 Q424 Q326 Q2
Composite zComposite zHewlett Packard Enterprise · Segment revenue: Europe, Middle East & AfricaHewlett Packard EnterpriseSegment revenue: Europe,…Meta Platforms · Capital ExpendituresMeta PlatformsCapital ExpendituresNVIDIA · Inventory TurnoverNVIDIAInventory TurnoverMicron Technology · Segment revenue: DRAMMicron TechnologySegment revenue: DRAMAlphabet · Capital ExpendituresAlphabetCapital Expenditures-2.3-0.90.62.13.617 Q219 Q120 Q422 Q424 Q326 Q2
Segment source diagnostics
target bucket company segment_or_metric universe field source_type corr_obs same_q_corr fdr_q_diagnostic fdr_above_10pct_reference
Infrastructure Solutions Group industry_growth Cisco Systems Products — Cost of Revenue CSCO UW EQUITY is_cogs_to_fe_and_pp_and_g company_modl_segment 29 0.392648 0.181959 True
Infrastructure Solutions Group downstream_demand Amazon.com Revenue — Retail Third-Party Seller Services — Sales Growth at Constant Currency (%) AMZN UW EQUITY revenue_growth_cc_1_yr company_modl_segment 26 -0.411190 0.167365 True
Infrastructure Solutions Group upstream_input ON Semiconductor COGS / Net Sales ON UW EQUITY cogs_to_net_sales company_reported_metric 24 -0.386082 0.221795 True
Infrastructure Solutions Group downstream_demand Meta Platforms Capital Expenditures META UW EQUITY is_capex_as_reported company_reported_metric 29 0.671495 0.003476 False
Infrastructure Solutions Group upstream_input Seagate Technology Total Revenue STX UW EQUITY is_comp_sales company_reported_metric 29 0.533673 0.031047 False
Infrastructure Solutions Group upstream_input Credo Technology COGS to FE and PP&G CRDO UW EQUITY is_cogs_to_fe_and_pp_and_g company_reported_metric 20 0.395194 0.249877 True
Infrastructure Solutions Group industry_growth Arista Networks Days Inventory Outstanding ANET UN EQUITY annualized_days_inv_outstdg company_reported_metric 29 -0.593682 0.012213 False
Infrastructure Solutions Group downstream_demand Microsoft COGS to FE and PP&G MSFT UW EQUITY is_cogs_to_fe_and_pp_and_g company_reported_metric 30 0.489853 0.033140 False
Infrastructure Solutions Group downstream_demand Oracle Cloud & Software ORCL UN EQUITY sales_rev_turn company_modl_segment 31 0.592729 0.005899 False
Infrastructure Solutions Group industry_growth NetApp Segment revenue: Product Revenue NTAP UW EQUITY sales_rev_turn company_modl_segment 31 0.450703 0.101853 True
Infrastructure Solutions Group upstream_input NVIDIA Inventory Turnover NVDA UW EQUITY invent_turn company_reported_metric 20 0.792771 0.001299 False
Infrastructure Solutions Group industry_growth Ciena Inventory Turnover CIEN UN EQUITY invent_turn company_reported_metric 23 0.356084 0.200484 True
Infrastructure Solutions Group upstream_input Western Digital GAAP Results — Revenue WDC UW EQUITY sales_rev_turn company_reported_metric 29 0.486574 0.056939 False
Infrastructure Solutions Group downstream_demand Alphabet Capital Expenditures GOOGL UW EQUITY cf_purchase_of_fixed_prod_assets company_reported_metric 29 0.620310 0.005257 False
Infrastructure Solutions Group upstream_input Micron Technology Segment revenue: DRAM MU UW EQUITY sales_rev_turn company_modl_segment 30 0.768706 0.000076 False
Infrastructure Solutions Group industry_growth International Business Machines Segment revenue: Europe, Middle East, & Africa IBM UN EQUITY sales_rev_turn company_modl_segment 30 0.463884 0.099027 False
Infrastructure Solutions Group industry_growth Super Micro Computer Segment revenue: Europe SMCI UW EQUITY sales_rev_turn company_modl_segment 28 0.596496 0.012213 False
Infrastructure Solutions Group industry_growth Hewlett Packard Enterprise Segment revenue: Europe, Middle East & Africa HPE UN EQUITY sales_rev_turn company_modl_segment 31 0.708185 0.001006 False
Infrastructure Solutions Group upstream_input Advanced Micro Devices Work In Process AMD UW EQUITY invtry_in_progress company_reported_metric 29 -0.497841 0.056939 False

CSG commercial

sources n=2 / companies n=2Industry growth=2minimum composite breadth 1/2active sources at latest target 1/2latest target actual +17.9%latest target z +0.8latest composite z +0.2 at 26 Q2partial-coverage observations 2target/composite overlap 33 quarters

Target zTarget zSame-period composite zSame-period composite z-2.3-1.00.31.62.917 Q219 Q120 Q422 Q424 Q326 Q2
Composite zComposite zHP Inc · InventoryHP IncInventoryLenovo Group · Segment revenue: AmericasLenovo GroupSegment revenue: Americas-2.5-1.20.11.42.817 Q219 Q120 Q422 Q424 Q326 Q2
Segment source diagnostics
target bucket company segment_or_metric universe field source_type corr_obs same_q_corr fdr_q_diagnostic fdr_above_10pct_reference
CSG commercial industry_growth Lenovo Group Segment revenue: Americas 992 HK EQUITY sales_rev_turn company_modl_segment 32 0.567463 0.001991 False
CSG commercial industry_growth HP Inc Inventory HPQ UN EQUITY bs_inventories company_reported_metric 32 0.730314 0.000065 False

CSG consumer

sources n=2 / companies n=2Industry growth=2minimum composite breadth 1/2active sources at latest target 0/2latest target actual +8.6%latest target z +0.6latest composite z +1.0 at 26 Q1partial-coverage observations 4target/composite overlap 30 quarters

Target zTarget zSame-period composite zSame-period composite z-2.6-1.30.11.52.817 Q219 Q120 Q422 Q424 Q326 Q2
Composite zComposite zHP Inc · RevenueHP IncRevenueLenovo Group · Segment revenue: Intelligent Devices Group (IDG)Lenovo GroupSegment revenue: Intellig…-2.9-1.40.11.63.117 Q419 Q321 Q122 Q424 Q226 Q1
Segment source diagnostics
target bucket company segment_or_metric universe field source_type corr_obs same_q_corr fdr_q_diagnostic fdr_above_10pct_reference
CSG consumer industry_growth HP Inc Revenue HPQ UN EQUITY is_comp_sales company_reported_metric 28 0.815227 6.742173e-07 False
CSG consumer industry_growth Lenovo Group Segment revenue: Intelligent Devices Group (IDG) 992 HK EQUITY sales_rev_turn company_modl_segment 29 0.652462 3.234408e-04 False

ISG AI servers

sources n=0 / companies n=0minimum composite breadth 0/0latest target actual +352.4%latest target z +1.0history 4 quarters

Target zTarget z-1.3-0.7-0.10.61.224 Q425 Q125 Q225 Q325 Q426 Q1
No candidate passed the true same-period dashboard qualification gates for this target.
Segment source diagnostics
No dashboard-approved relationship rows. The target remains visible because its governed organic-growth vector is score-ready.

ISG servers and networking

sources n=5 / companies n=5Industry growth=4, Upstream input=1minimum composite breadth 1/5active sources at latest target 5/5latest target actual +123.2%latest target z +3.3latest composite z +0.3 at 26 Q1partial-coverage observations 11target/composite overlap 32 quarters

Target zTarget zSame-period composite zSame-period composite z-1.8-0.41.02.43.817 Q219 Q120 Q422 Q324 Q226 Q1
Composite zComposite zHewlett Packard Enterprise · GAAP Results — Cost of RevenueHewlett Packard EnterpriseGAAP Results · Cost of Re…Advanced Micro Devices · Work In ProcessAdvanced Micro DevicesWork In ProcessArista Networks · Days Inventory OutstandingArista NetworksDays Inventory OutstandingCisco Systems · Segment revenue: CollaborationCisco SystemsSegment revenue: Collabor…International Business Machines · Segment revenue: Europe, Middle East, & AfricaInternational Business Ma…Segment revenue: Europe,…-3.0-1.40.11.73.317 Q219 Q120 Q422 Q424 Q326 Q2
Segment source diagnostics
target bucket company segment_or_metric universe field source_type corr_obs same_q_corr fdr_q_diagnostic fdr_above_10pct_reference
ISG servers and networking industry_growth International Business Machines Segment revenue: Europe, Middle East, & Africa IBM UN EQUITY sales_rev_turn company_modl_segment 32 0.450542 0.121460 True
ISG servers and networking industry_growth Hewlett Packard Enterprise GAAP Results — Cost of Revenue HPE UN EQUITY is_cogs_to_fe_and_pp_and_g company_reported_metric 31 0.664385 0.001617 False
ISG servers and networking upstream_input Advanced Micro Devices Work In Process AMD UW EQUITY invtry_in_progress company_reported_metric 30 -0.488362 0.191581 True
ISG servers and networking industry_growth Cisco Systems Segment revenue: Collaboration CSCO UW EQUITY sales_rev_turn company_modl_segment 26 0.502655 0.121460 True
ISG servers and networking industry_growth Arista Networks Days Inventory Outstanding ANET UN EQUITY annualized_days_inv_outstdg company_reported_metric 29 -0.573408 0.020190 False

ISG storage

sources n=3 / companies n=3Industry growth=3minimum composite breadth 1/3active sources at latest target 2/3latest target actual +8.5%latest target z -0.2latest composite z +0.6 at 26 Q2partial-coverage observations 2target/composite overlap 28 quarters

Target zTarget zSame-period composite zSame-period composite z-1.7-0.21.32.84.317 Q219 Q120 Q422 Q424 Q326 Q2
Composite zComposite zHewlett Packard Enterprise · Capital ExpendituresHewlett Packard EnterpriseCapital ExpendituresNetApp · Capital ExpendituresNetAppCapital ExpendituresInternational Business Machines · COGS / Net SalesInternational Business Ma…COGS / Net Sales-3.2-1.8-0.31.12.518 Q219 Q421 Q323 Q124 Q426 Q2
Segment source diagnostics
target bucket company segment_or_metric universe field source_type corr_obs same_q_corr fdr_q_diagnostic fdr_above_10pct_reference
ISG storage industry_growth Hewlett Packard Enterprise Capital Expenditures HPE UN EQUITY headline_capex company_reported_metric 27 0.527446 0.225373 True
ISG storage industry_growth NetApp Capital Expenditures NTAP UW EQUITY headline_capex company_reported_metric 27 0.427882 0.249448 True
ISG storage industry_growth International Business Machines COGS / Net Sales IBM UN EQUITY cogs_to_net_sales company_reported_metric 27 0.374644 0.371533 True

Total net revenue

sources n=4 / companies n=4Industry growth=3, Upstream input=1minimum composite breadth 1/4active sources at latest target 1/4latest target actual +87.5%latest target z +4.0latest composite z +2.6 at 26 Q2partial-coverage observations 4target/composite overlap 27 quarters

Target zTarget zSame-period composite zSame-period composite z-1.9-0.31.32.94.519 Q421 Q122 Q223 Q425 Q126 Q2
Composite zComposite zHP Inc · RevenueHP IncRevenueMicron Technology · Segment revenue: DRAMMicron TechnologySegment revenue: DRAMLenovo Group · RevenueLenovo GroupRevenueHewlett Packard Enterprise · Total RevenueHewlett Packard EnterpriseTotal Revenue-3.0-1.30.32.03.617 Q219 Q120 Q422 Q424 Q326 Q2
Segment source diagnostics
target bucket company segment_or_metric universe field source_type corr_obs same_q_corr fdr_q_diagnostic fdr_above_10pct_reference
Total net revenue upstream_input Micron Technology Segment revenue: DRAM MU UW EQUITY sales_rev_turn company_modl_segment 26 0.809130 0.000011 False
Total net revenue industry_growth Lenovo Group Revenue 992 HK EQUITY is_comp_sales company_reported_metric 23 0.756164 0.000562 False
Total net revenue industry_growth Hewlett Packard Enterprise Total Revenue HPE UN EQUITY is_comp_sales company_reported_metric 27 0.707873 0.000562 False
Total net revenue industry_growth HP Inc Revenue HPQ UN EQUITY is_comp_sales company_reported_metric 24 0.796405 0.000200 False

Run Metadata Back to top

Approval policyas_led_auto_approve_v3_exact_rescore
Composite methodequal-weight mean of available individually standardized sources; minimum one active source; 1/1 composites shown as lower breadth
Coverage displayfilled markers for full coverage; open markers for valid partial coverage; valid composites retained through missing target quarters; primary lines connect between observed points without inserting observations or markers
Timingsame period; no lead shifting
Relationship rows38
Companies21