Famous PC maker Dell Technologies’ (DELL) shares soared in price after the company reported better-than-expected third-quarter results on November 23, due primarily to strong PC demand. However, is this enough to sustain the demand in the short term? Let’s find out.Computer hardware giant Dell Technologies Inc. (NYSE:) provides information technology solutions. The stock has lost 49% in price over the past month to close Friday’s trading session at $56.18. However, its shares soared after the company posted the ‘best third quarter’ in its history, driven by robust demand, durable competitive advantages, and strong execution.

DELL’s non-GAAP net revenue increased 21% year-over-year to $28.41 billion for its fiscal third quarter, ended October 29, 2021. The adjusted EBITDA was $3.41 Billion, an increase of 6% over the previous year. Non-GAAP net income grew 18%, to $2.02Billion. Meanwhile, non-GAAP earnings came in at 2.37 Billion. That’s a 17% rise.

DELL’s stock edged up in price after the company completed the spin-off of VMware, Inc. (NYSE:) on November 1, 2021. A $11.50 Billion special cash dividend was included in the spin-off. DELL projected a 3% to 4% annual growth rate for 2021 and announced plans for $5 billion in share repurchases. In addition, hedge funds’ interest in the stock has increased lately. So, DELL’s near-term prospects look promising.

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