Dell Raises 2027 Outlook to $167B with $60B AI Servers, Shares Surge

DELL•2026-06-02

Dell reported first-quarter sales surged 88% year-over-year to $43.8 billion, booked $24.4 billion in AI server orders and ended the period with a $51.3 billion AI backlog. Goldman Sachs maintained a Buy rating with a $500 price target implying 15% upside after Dell shares rallied 32.8% then added 10.7%.

1. Record First-Quarter Results

Dell reported first-quarter sales surged 88% year-over-year to $43.8 billion, booking $24.4 billion in AI server orders and ending the period with a $51.3 billion AI server backlog.

2. Fiscal 2027 AI-Driven Outlook

The company raised its fiscal 2027 revenue outlook to $167 billion, up from about $140 billion, with $60 billion of that total driven by AI server sales, exceeding analysts’ prior estimate of $142.1 billion.

3. Analyst Rating and Stock Reaction

Goldman Sachs maintained a Buy rating on Dell shares and set a $500 price target implying roughly 15% upside, after which the stock jumped 32.8% in one session, rallied another 10.7% the next day and was up 2.5% premarket.