With expectations and the bar set extraordinarily low, Sterne Agee analyst Shaw Wu said he thinks Dell could rally near-term, as results may be better than anticipated.

"However, given low expectations, we expect results to be in-line or better. For its outlook, it is a similar story with low expectations. Because of this, we would not be surprised to see a near-term rally in DELL shares though our longer-term concerns remain," Wu wrote in a note. He rated Dell shares neutral.

Analysts polled by Thomson Reuters expect the Round Rock, Texas-based company to earn 40 cents a share on $13.89 billion in revenue.

The PC market might be slowing and becoming less relevant as smartphones and tablets continue to meet our technological needs. Raymond James analyst Brian Alexander believes the PC isn't dead, and Dell could surprise from an uptick in demand.

"We maintain our Strong Buy rating, however, as we believe that growth could surprise to the upside in a more normalized environment, as the company leverages its enhance enterprise capabilities, increased technical resources and expanded channel presence," Alexander wrote.

Dell investors can only hope.

Interested in more on Dell? See TheStreet Ratings' report card for this stock.

-- Written by Chris Ciaccia in New York

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