Dell Technologies ( DELL Quick Quote DELL - Free Report) recently announced the launch of Apex Data Storage Services. The new service comprises a portfolio of scalable and elastic storage resources that simplify the storage process across the multi-cloud. The service gives complete oversight over various storage systems without the hassle of day-to-day maintenance and administrative tasks. The latest offering reflects Dell’s commitment to aid customers in taking control of their data across different multi-cloud platforms. The solution is based on its broad technology portfolio and experience in building open ecosystems, data storage capabilities, and supply chain systems, which simplify operations across the multi-cloud. Services including data protection and storage with simultaneous access to all major public clouds through a single console are offered under Apex Multi Cloud Data Services, Apex Back Up Services, and Project Alpine. Meanwhile, Backup Service will guard SaaS applications. Along with the Backup Service, it will bring Dell’s block and file storage software to leading public clouds, delivering flexibility in managing data between on-premises environments and public clouds.
Portfolio Expansion to Drive Cloud Computing Market Share Gain
Dell recently revealed that 83% of organizations are committed to storing and managing data using a multi-cloud approach within 12 months. Dell is focused on tapping this market to drive top-line growth by providing data storage and protection services to companies extending operations in the cloud.
The company is expanding the availability of Apex data Storage Services across 13 countries in Europe and the Asia Pacific to gain access to different organizations and win market share in the Cloud Computing Market. Dells’ Apex Cloud Services is currently available in the United States, the U.K., France, and Germany. However, Dell is a late entrant in the cloud computing business and playing a catch-up game against key competitor Microsoft ( MSFT Quick Quote MSFT - Free Report) . Microsoft has been riding on strong demand for its Azure cloud services. Azure’s increased availability in more than 60 regions globally is expected to have reinforced Microsoft’s competitive position in the cloud computing market. Oracle ( ORCL Quick Quote ORCL - Free Report) is another company making notable strides in the sector. The company has been gaining ground in its cloud business. Its software-as-a-service (SaaS), infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) solutions are likely to expand robustly over the next few years as enterprises increasingly transition to the cloud. However, even amid strong competition, Dell is gaining traction in the industry as companies like SMC Corporation are seeking the help of Dell to manage and take control of data seamlessly across multi-platforms. Dell is expanding collaborations with key cloud vendors like Alphabet’s ( GOOGL Quick Quote GOOGL - Free Report) Google, VMware and other organizations to offer a broad range of its DevOps-ready platforms to customers and accelerate top-line growth. Zacks Rank
Dell currently carries a Zacks Rank #3 (Hold). You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. In the past year, Dell’s shares have tumbled 25.4% against the Computer and Technology sector’s growth of 8%. The Zacks Consensus Estimate for 2022 earnings has moved north by 0.35% in the past 60 days to $8.66 per share.