Shares of Dell Technologies Inc (NASDAQ:DELL) climbed more than 10% Wednesday after the company posted broad-based earnings strength and raised its full-year guidance well above expectations, driven by surging demand for AI servers.
Fiscal second-quarter revenue was $47 billion, up 58% year over year, beating the $46 billion consensus estimate. The company guided full-year revenue to $192 billion, up from a prior outlook of $167 billion.
Bank of America reiterated its Buy rating and raised its price objective to $600 from $505, citing Dell's position as a beneficiary of agentic AI adoption across NeoClouds, sovereign, enterprise and edge computing.
BofA said demand continues to outpace supply by roughly 30% in fiscal 2027, with an even larger gap expected in fiscal 2028, creating a favorable pricing environment.
Dell's AI server business was a standout, with revenue, orders and backlog all coming in well above BofA's estimates. AI server revenue reached $16.4 billion, orders totaled $60.9 billion and backlog nearly doubled quarter over quarter to $95 billion. Dell raised its fiscal 2027 AI server revenue guidance by $14 billion to $74 billion.
#dell #year #quarter
Fiscal second-quarter revenue was $47 billion, up 58% year over year, beating the $46 billion consensus estimate. The company guided full-year revenue to $192 billion, up from a prior outlook of $167 billion.
Bank of America reiterated its Buy rating and raised its price objective to $600 from $505, citing Dell's position as a beneficiary of agentic AI adoption across NeoClouds, sovereign, enterprise and edge computing.
BofA said demand continues to outpace supply by roughly 30% in fiscal 2027, with an even larger gap expected in fiscal 2028, creating a favorable pricing environment.
Dell's AI server business was a standout, with revenue, orders and backlog all coming in well above BofA's estimates. AI server revenue reached $16.4 billion, orders totaled $60.9 billion and backlog nearly doubled quarter over quarter to $95 billion. Dell raised its fiscal 2027 AI server revenue guidance by $14 billion to $74 billion.
#dell #year #quarter
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