Dell Shares Soar 17% to Record High on AI Server Demand and Raised Targets
DELL•Dell shares climbed 17% to a record high, extending 2026 gains to 140% after Bank of America reiterated a 'buy' rating and Wells Fargo raised its price target to $270. Q1 fiscal 2027 guidance projects $34.7–35.7 billion in revenue including $13 billion in AI server sales, after fiscal 2026 revenue of $113.5 billion and $11.5 billion free cash flow.
1. Record High Share Performance
Dell's shares surged 17% to a record high on May 22, extending 2026 gains to 140% as Bank of America analysts reiterated a 'buy' rating and Wells Fargo lifted its price target to $270. Investor optimism was further boosted by sector momentum after Lenovo reported an 84% jump in AI-related revenue.
2. Q1 Fiscal 2027 Guidance
The company projects Q1 fiscal 2027 revenue of $34.7–35.7 billion, with AI servers expected to contribute $13 billion. Market watchers will assess whether Dell can outperform this guidance and improve margins despite higher component costs.
3. Fiscal 2026 Financial Results
Dell closed fiscal 2026 with $113.5 billion in revenue, up 19% year-over-year, driven by robust demand for enterprise hardware. Adjusted free cash flow reached $11.5 billion, reflecting strong operational efficiency amid supply chain pressures.





