Dell Technologies COO Says PC Refresh Cycle Remains Slow

May 29 (Reuters) - Dell Technologies Inc DELL.N:

• DELL TECHNOLOGIES COO: WHILE THE PC REFRESH REMAINS BEHIND PRIOR CYCLES, WE ARE SEEING INDICATORS THAT THE INSTALLED BASE IS UPGRADING TO NEW WINDOWS 11 PC, MANY OF THEM AI PCS - CONF CALL

• DELL TECHNOLOGIES CFO: WE ARE FOCUSED ON FURTHER INCREASING OUR MIX OF DELL IP VERSUS PARTNER IP STORAGE

• DELL TECHNOLOGIES CFO: IN CSG BUSINESS, WE SAW STRONG PERFORMANCE ACROSS SMALL AND MEDIUM BUSINESS AND LARGE ENTERPRISE

• DELL TECHNOLOGIES CFO: WE'RE EXPECTING SUB-SEASONAL PERFORMANCE IN TRADITIONAL SERVER AND STORAGE, AS CUSTOMERS EVALUATE THEIR IT SPEND FOR THE YEAR GIVEN THE DYNAMIC MACRO ENVIRONMENT

• DELL TECHNOLOGIES CFO: WE’RE OPTIMISTIC ON OUR PORTFOLIO AND OUR ABILITY TO EXECUTE; WE WANT TO BE THOUGHTFUL OF HOW CUSTOMERS THINK THROUGH THEIR IT SPEND RELATIVE TO THE MACRO ENVIRONMENT

• DELL TECHNOLOGIES CFO: AS OUR MODERNIZATION EFFORTS CONTINUE, WE EXPECT OPERATING EXPENSE TO BE DOWN LOW SINGLE DIGITS Y-O-Y

• DELL TECHNOLOGIES COO: OUR GUIDANCE FOR THE YEAR, AND Q2 INCLUDES EVERYTHING THAT WE KNOW ABOUT TARIFFS, AS OF TODAY

• DELL TECHNOLOGIES COO: WE VIEWED THE INPUT COST TO OUR BUSINESS AS DEFLATIONARY IN Q2

• DELL TECHNOLOGIES COO: WE DID NOT MAKE ANY PRICE MOVES IN THE QUARTER