As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q1. Today, we are looking at hardware & infrastructure stocks, starting with Diebold Nixdorf (NYSE: DBD).

The Hardware & Infrastructure sector will be buoyed by demand related to AI adoption, cloud computing expansion, and the need for more efficient data storage and processing solutions. Companies with tech offerings such as servers, switches, and storage solutions are well-positioned in our new hybrid working and IT world. On the other hand, headwinds include ongoing supply chain disruptions, rising component costs, and intensifying competition from cloud-native and hyperscale providers reducing reliance on traditional hardware. Additionally, regulatory scrutiny over data sovereignty, cybersecurity standards, and environmental sustainability in hardware manufacturing could increase compliance costs.

The 9 hardware & infrastructure stocks we track reported a very strong Q1. As a group, revenues beat analysts’ consensus estimates by 7.3% while next quarter’s revenue guidance was 12.9% above.

In light of this news, share prices of the companies have held steady as they are up 3.3% on average since the latest earnings results.

Diebold Nixdorf (NYSE: DBD)

With roots dating back to 1859 and a presence in over 100 countries, Diebold Nixdorf (NYSE: DBD) provides automated self-service technology, software, and services that help banks and retailers digitize their customer transactions.

Diebold Nixdorf reported revenues of $888.2 million, up 5.6% year on year. This print exceeded analysts’ expectations by 3.5%. Overall, it was a strong quarter for the company with a beat of analysts’ EPS estimates and full-year EPS guidance in line with analysts’ estimates.

Diebold Nixdorf delivered the slowest revenue growth in the group. Interestingly, the stock is up 2.7% since reporting and currently trades at $85.16.

Is now the time to buy Diebold Nixdorf? Access our full analysis of the earnings results here, it’s free.

Best Q1: Dell (NYSE: DELL)

Founded by Michael Dell in his University of Texas dorm room in 1984 with just $1,000, Dell Technologies (NYSE: DELL) provides hardware, software, and services that help organizations build their IT infrastructure, manage cloud environments, and enable digital transformation.

Dell reported revenues of $43.84 billion, up 87.5% year on year, outperforming analysts’ expectations by 21.5%. The business had an incredible quarter with a beat of analysts’ EPS estimates.

Dell achieved the highest guidance raise and highest full-year guidance raise of the whole group. The market seems happy with the results as the stock is up 21.2% since reporting. It currently trades at $384.36.

Is now the time to buy Dell? Access our full analysis of the earnings results here, it’s free.

Xerox (NASDAQ: XRX)

Pioneering the modern office copier and inventing technologies like Ethernet and the laser printer, Xerox (NASDAQ: XRX) provides document management systems, printing technology, and workplace solutions to businesses of all sizes across the globe.

Xerox reported revenues of $1.85 billion, up 26.7% year on year, exceeding analysts’ expectations by 6.6%. Still, it was a slower quarter as it posted a significant miss of analysts’ EPS estimates and full-year revenue guidance slightly missing analysts’ expectations.

Interestingly, the stock is up 70.4% since the results and currently trades at $2.68.

Read our full analysis of Xerox’s results here.

Hewlett Packard Enterprise (NYSE: HPE)

Born from the 2015 split of the iconic Silicon Valley pioneer Hewlett-Packard, Hewlett Packard Enterprise (NYSE: HPE) provides edge-to-cloud technology solutions that help businesses capture, analyze, and act upon their data across hybrid IT environments.

Hewlett Packard Enterprise reported revenues of $10.68 billion, up 40% year on year. This print beat analysts’ expectations by 9.2%. It was an incredible quarter as it also logged a solid beat of analysts’ ARR and EPS estimates.

The stock is down 4.4% since reporting and currently trades at $44.92.

Read our full, actionable report on Hewlett Packard Enterprise here, it’s free.

Everpure (NYSE: P)

Founded in 2009 as a pioneer in enterprise all-flash storage technology, Everpure (NYSE: P) provides all-flash data storage hardware and software that helps organizations manage their data more efficiently across on-premises and cloud environments.

Everpure reported revenues of $1.05 billion, up 35.2% year on year. This number topped analysts’ expectations by 5%. Overall, it was a stunning quarter as it also recorded a solid beat of analysts’ billings and EPS estimates.

Everpure had the weakest guidance update among its peers. The stock is down 21.3% since reporting and currently trades at $67.50.

Read our full, actionable report on Everpure here, it’s free.

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.