On June 1, Dell Technologies rose 4.06% overnight, trading at $440.0/share, with trading volume of $6.25 million. The stock continues to build on its historic earnings-driven rally.
Dell reported fiscal Q1 FY2027 results on May 28 that dramatically exceeded expectations. Revenue surged 88% year-over-year to $43.8 billion, far above the $35.7 billion consensus estimate. AI-optimized server revenue reached $16.1 billion, an extraordinary 757% increase year-over-year, while adjusted EPS of $4.86 vastly outpaced the $2.96 estimate. The company raised its full-year revenue guidance to $165-$169 billion and lifted AI server revenue expectations to approximately $60 billion, implying 144% growth.
Wall Street responded with aggressive target price increases. JPMorgan raised its target from $280 to $500, Citi moved to $475, and Melius set a Street-high of $565. Morgan Stanley, previously bearish, acknowledged its model was wrong and is reassessing its framework. Management stated on the earnings call that supply constraints—not demand—remain the binding factor, with order backlogs expected to persist through year-end.
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