Dell Technologies shares climbed 4.3% on Wednesday to $556.85, touching a new 52-week high of $562.99, as investors positioned ahead of CEO Michael Dell’s appearance at the Goldman Sachs Communacopia + Technology Conference. The move followed record fiscal second-quarter results and a raised full-year outlook that reinforced the company’s position in the artificial intelligence infrastructure market.
For fiscal Q2 2027, Dell reported revenue of $46.97 billion, up 58% year over year and above the $44.9 billion consensus. Adjusted EPS tripled to $7.04, far exceeding the $4.91 estimate. AI-related orders reached $60.9 billion, with AI revenue of $16.4 billion and an AI backlog of $95 billion. The Infrastructure Solutions Group was the standout, with revenue up 89% to $31.8 billion and operating income up 225% to $4.8 billion.
Dell raised full-year guidance to sales growth of 69% and adjusted EPS growth of 148%, projecting adjusted EPS of $25.50. It also raised full-year AI server guidance to about $74 billion, roughly three times the prior-year level. Commercial revenue rose 22%, marking an eighth consecutive quarter of growth.
Evercore raised its Dell price target to $650 from $575, maintaining the stock as a top pick. Analyst Amit Daryanani cited neocloud deployments, enterprise AI adoption, supply-chain advantages, and capital allocation. His bull case puts fiscal 2028 EPS above $40 and outlines a path toward $1,000 per share. Wall Street consensus is a Moderate Buy with an average price target of $595.17, based on 14 Buy and 7 Hold ratings.
Dell is scheduled to join the S&P 100 on September 21, which could attract additional index-tracking demand. For crypto markets, the strong AI infrastructure spending narrative is being watched closely, as it may support sentiment around AI-focused digital assets even without direct token exposure in the Dell story.
