Dell shares leap 11% to all-time excessive on RBC Outperform initiation

Dell Technologies Inc (NASDAQ:DELL) shares hit an all-time excessive above $562, up 11% on Friday after RBC Capital Markets initiated protection with an Outperform score and a $640 value goal.

RBC’s initiation cited enterprise demand for AI investments, compute modernization, storage enlargement and PC refresh, which the agency mentioned ought to maintain outcomes above Dell’s long-term targets.

Analysts pointed to Dell’s end-to-end portfolio spanning compute, PCs, storage and servers, together with its put in base, provide chain and versatile consumption choices, as components positioning the corporate to maintain gaining market share.

The agency additionally flagged Dell’s IP combine shift and AI server progress as significant working margin enlargement drivers for its Infrastructure Solutions Group, and mentioned strong free money move technology helps shareholder-friendly capital allocation.

Dell reported document fiscal second-quarter 2027 proceeds of roughly $47 billion, up 58% year-over-year, with adjusted earnings per share of $7.04 that beat estimates. Management raised full-year fiscal 2027 proceeds steering by $25 billion to roughly $192 billion.

The firm’s AI server backlog reached $95 billion, with greater than $60.9 billion in new AI orders booked through the quarter. Dell mentioned the backlog offers multi-year proceeds visibility extending into fiscal yr 2028.

Dell is scheduled to hitch the S&P 100 index in September 2026.