3 High-Momentum AI Hardware Stocks to Buy Now
The artificial intelligence (AI) infrastructure buildout is advancing rapidly, with hyperscalers pledging hundreds of billions of dollars to fuel its growth. One estimate puts total data-center investment at $7 trillion through 2030, with $5.2 trillion dedicated to AI workloads. This global buildout has created a huge tailwind for companies that provide AI hardware, as they supply infrastructure that's essential to the boom.
With that in mind, here are three AI hardware stocks that have grown rapidly amid the AI boom. Dell Technologies (DELL), Hewlett Packard Enterprise (HPE), and Sandisk (SNDK) all show strong momentum and, having skyrocketed over the past year, these stocks may be solid buys right now. Let's take a closer look.
AI Hardware Stock #1: Dell Technologies (DELL)
Headquartered in Round Rock, Texas, Dell is a global IT infrastructure company. It designs, manufactures, and sells personal computers, servers, storage, and networking equipment through two main divisions: Client Solutions Group and Infrastructure Solutions Group. The company has a market capitalization of $346 billion.
Driven by the explosive demand for AI infrastructure and a series of blowout earnings beats, DELL stock has gained 342% over the past 52 weeks and 326% year-to-date (YTD). Dell reached a 52-week high of $562.99 on Sept. 9 but is down roughly 5% from that level.
This upsurge has pushed the stock above its 50-day and 200-day moving averages, showing solid momentum. Despite this, Dell is trading at a justified valuation. Its forward price-to-earnings (P/E) ratio of 20.8 times is lower than the industry average of roughly 22 times.
Dell has reported record results amid the AI boom. For the second quarter of fiscal 2027, revenue increased 58% year-over-year (YOY) to a record $46.97 billion. Total ISG revenue grew 89% to a record $31.78 billion, as AI-optimized servers revenue increased 100% YOY to a record $16.4 billion. Dell also reported record non-GAAP diluted EPS of $7.04, up 203% YOY.
For the current fiscal year, EPS is projected to grow 172% YOY to $25.14, followed by a 13% improvement to $28.38 in the next fiscal year. For the current quarter, Dell is projected to earn EPS of $6.42, up 173% YOY.
Dell has gained significant Wall Street attention, with analysts awarding shares a consensus “Strong Buy” rating overall. Of the 27 analysts rating the stock, 18 have a “Strong Buy” rating, two analysts have a “Moderate Buy,” and seven have a “Hold.” The average price target of $579.68 represents potential upside of 8% from current levels, while the Street-high price target of $735 indicates potential upside of 37% from here.
AI Hardware Stock #2: Hewlett Packard Enterprise (HPE)
Hewlett Packard Enterprise is a global enterprise technology company headquartered in Spring, Texas. The company designs and sells servers, storage, networking, and hybrid cloud solutions, along with related software and services, helping customers manage data and workloads across edge-to-cloud environments. HPE has a market capitalization of $74.3 billion.
HPE stock has gained a hefty 147% over the past 52 weeks and 145% YTD due to the AI infrastructure boom, as well as strong networking growth from its Juniper acquisition. The stock reached a 52-week high of $64.25 on June 2 but is currently down 8% from that level.
Like Dell, HPE stock shows strong momentum, as its price sits above the 50-day and 200-day moving averages. It also trades at a discount to its peers, with its forward P/E ratio of 17.7 times coming in lower than the industry average.
HPE recently reported its Q3 results for fiscal 2026. Net revenue rose 34% YOY to $12.21 billion. Networking revenue grew 75% YOY to $2.9 billion, while cloud and AI revenue increased 25% to $9 billion. Non-GAAP EPS grew 152% YOY to $1.11.
Despite such robust results, the market did not react positively to the news, as investors had loftier expectations. However, HPE believes that AI has become a multiyear growth driver, with the company positioned as a primary pure-play beneficiary of the incoming AI PC refresh cycle.
Wall Street analysts have a strong view on HPE’s earnings trajectory. The company is expected to report EPS of $3.27 in the current fiscal year, representing 112% YOY growth, then improve 27% YOY to $4.14 in the next fiscal year. For the current quarter, EPS is expected to rise 107% YOY to $1.12.
Wall Street analysts are taking a positive stance on HPE stock now with a consensus “Moderate Buy” rating overall. Of the 21 analysts rating the stock, 11 have a “Strong Buy,” two have a “Moderate Buy” rating, and eight have a “Hold" rating. The average price target of $68.16 indicates potential upside of 16% from current levels, while the Street-high price target of $88 indicates 49% potential upside from here.
AI Hardware Stock #3: Sandisk (SNDK)
Sandisk designs and sells flash memory and storage products, including solid-state drives (SSDs), memory cards, and USB drives. Headquartered in Milpitas, California, and spun off from Western Digital (WDC) in 2025, its products support AI workloads, cloud computing, gaming, and everyday digital storage needs. The company has a market capitalization of $254 billion.
Sandisk has largely benefited from an AI-driven NAND flash shortage that has sent memory prices and profits soaring. Over the past 52 weeks, SNDK stock has gained a whopping 2,400% as well as 643% YTD. The stock reached a 52-week high of $2,354.39 on June 22 but is currently down 25% from that level.
After the giant surge, the price of SNDK stock sits way above its 200-day moving average as well as its 50-day moving average. Its forward P/E ratio of 8.3 times is also lower than the industry average of roughly 22 times.
As a supplier of critical flash memory and external storage units needed to feed AI datasets, Sandisk sits at the helm of the memory demand boom, as reflected in its latest results. For Q4 2026, revenue surged a whopping 372% year-over-year (YOY) to $8.97 billion, as data-center revenue climbed from $213 million to $2.98 billion and edge revenue rose 392% YOY to $5.43 billion. Non-GAAP EPS increased from $0.29 in the year-ago period to $39.25.
Wall Street analysts are extremely optimistic about Sandisk’s future earnings. Analysts expect EPS to climb considerably YOY to $45.22 for the current quarter. For fiscal 2027, EPS is projected to surge 201% to $208.92, followed by 21% growth to $252.16 in fiscal 2028.
Memory giant Sandisk is an extremely popular name on Wall Street, with analysts awarding SNDK stock a consensus “Strong Buy” rating overall. Of the 24 analysts rating the stock, 19 have a “Strong Buy” rating, one has a “Moderate Buy,” and four analysts have a “Hold” rating. The average price target of $2,144.26 represents 22% potential upside from current levels, while the Street-high price target of $3,000 reflects potential upside of 70% from current levels.
On the date of publication, Anushka Dutta did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.