Dell Technologies (DELL) has become one of the standout performers in the S&P 500 this year, with shares surging approximately 235% in 2026.
Only two other stocks in the broader S&P 500 index have managed to post larger gains than Dell so far this year.
The company’s remarkable run accelerated sharply following its Q1 2027 earnings report, released on May 28, which sent shares climbing an additional 32.8% in a single session.
Revenue surged 88% to $43.84 billion, while adjusted earnings per share reached $4.86, both figures blowing past analyst estimates compiled by Visible Alpha.
The most striking data point from the report was AI-optimized server orders, which rocketed 757% to $16.1 billion, signaling massive enterprise demand for AI infrastructure.
CFO David Kennedy said Dell now sees full-year revenue of between $165 billion and $169 billion, a significant increase from previous guidance of $138 billion to $142 billion.
Kennedy attributed the raised outlook in large part to AI-driven momentum, which has reshaped Dell’s order book and forward revenue visibility considerably.
Among the 25 analysts currently covering DELL stock, the consensus rating stands at “Moderate Buy,” reflecting broad confidence in the company’s near-term trajectory.
That consensus is built on 16 “Strong Buy” ratings, two “Moderate Buy” ratings, and seven “Hold” ratings, with no analyst currently recommending investors sell the stock.
Citi analyst Asiya Merchant maintained her Buy rating on Dell Technologies following the earnings report and raised her price target to $515 from $475.
The mean analyst price target of $506.86 represents a roughly 25% premium to Dell’s current trading levels, suggesting the Street sees further room to run.
The most bullish case on Wall Street carries a price target of $700, which would represent an upside potential of approximately 72.7% from current prices.
Dell’s transformation from a traditional PC and server hardware company into a critical player in AI infrastructure has driven the dramatic revaluation of its stock this year.
