Dell Technologies Skyrockets to Record High, Surging 350% in 2026 Due to AI Server Demand
Dell Technologies shares soared to a record-breaking 12% on Friday, September 12, reaching an unprecedented high of over $567. This surge followed an Outperform rating and an ambitious $640 price target set by Wall Street titan RBC Capital Markets. This suggests a potential 14% increase, even after one of the most remarkable rallies in large-cap history.
In 2026, Dell’s value has more than quadrupled, showing a nearly 350% increase year-to-date. The company has evolved into a leading vendor of Nvidia-based AI servers, catering to cloud providers and enterprises globally. RBC analyst David Paige based the optimistic forecast on a staggering $95 billion AI server order backlog that Dell has yet to begin fulfilling, in addition to $60.9 billion in new AI server orders booked in the last quarter alone.
The company’s most recent quarterly results were equally impressive: revenue reached $47 billion, marking a 58% year-over-year increase, while earnings per share of $6.34 surged 273%. Dell raised its full-year fiscal 2027 revenue guidance to $192 billion. Storage revenue also rose by 26%, indicating that the AI tailwind extends far beyond GPU servers. The rally has also elevated founder Michael Dell to the ranks of the world’s wealthiest individuals, with his net worth estimated at over $273 billion.
Source: CNBC – Dell stock jumps on RBC initiation, now up nearly 350% in 2026