Dell Shares Reach Record High on Surge in AI Server Orders

Broker upgrades pointed to a huge AI order book and backlog as the rally’s engine, leaving investors focused on insider sales, supply constraints, a planned $4 billion bond offering.

Overview

The stock climbed about 11.8% on Friday to an intraday peak of $567.75 and closed near $566.62, a record high that followed heavy trading volume.
RBC Capital Markets launched coverage with an Outperform rating and a $640 target while Goldman Sachs, Barclays and Fox Advisors also raised their price targets.
Dell reported a blowout quarter on Sept. 1 with EPS of $7.04 versus a $4.91 consensus and revenue of $46.97 billion, and set FY2027 EPS guidance at $25.50.
Company disclosures show an AI server order book of $60.9 billion and an overall backlog of roughly $95 billion, which gives multi‑quarter revenue visibility but leaves timing and margin conversion uncertain.
Investors are watching recent insider sales of about 1.3 million shares worth over $624 million and a planned $4 billion bond offering that could affect Dell’s leverage and cash flow while supply constraints for GPUs and high‑bandwidth memory pose ongoing operational risks.