Dell Technologies shares sank in premarket trading Friday, a day after it projected soft current-quarter profit.

Dell Technologies beat on revenue and EPS, yet the stock sold off, now trading at just 13x earnings with an 8% FCF yield. Read why I'm upgrading DELL stock to Buy.

Dell released its second-quarter results on Thursday, reporting $29.78 billion in revenue, up 18.98% year-over-year, while beating consensus estimates of $29.17 billion. It posted a profit of $2.32 ...