I wouldnt touch a pc maker of any kind with a ten foot pole. Better time to own the arms suppliers than the people fighting the pc wars...
These things are commodities at this point and Dells gotten by through cost cutting and efficiency. Based on my recent experience with them, they cut until they hit bone and kept cutting. I cant see significant profits or even maintenance of existing profits. Historically, the integrator made their money by providing a product and a service that held enough value for someone to pay a premium for it. Dell can still knock out a decent box cheap, but I dont see the good (enough) service anymore.
Theres also the resurgent risk of thin clients. People are fed up with complexity, bugs, viruses and all the cost and aggravation associated with owning a computer. Up until now, they havent had much of a choice. Google is close to changing all that.
When all you need is a screen and a keyboard and a box the size of a deck of cards with a simple processor and a network connection in it that costs $50...whither Dell?