Dell Stock Surges 98% Over 8 Days, Approaching Longest Winning Streak Since 2018
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Dell Technologies has risen for eight straight trading days with a cumulative gain of 98%; a positive close on Tuesday would mark its longest winning streak since March 2018 — fueled by a blowout quarter and a sector-wide AI server re-rating.
Up 98% in eight days — what is going on with Dell?
Dell (DELL) added roughly 2% in pre-market Tuesday to $475.36, extending its run to eight consecutive up days.
The cumulative gain over that stretch: 98%. This means → in just eight trading sessions, the market has nearly doubled its price tag on Dell.
Per Dow Jones Market Data, a positive close Tuesday would give the stock its longest winning streak since March 2018.
How strong was the quarter?
First-quarter revenue jumped 88% year-over-year to $43.8 billion, blowing past the analyst consensus of $35.5 billion.
Single-quarter AI orders hit $24.4 billion; the AI server backlog — orders signed but not yet delivered — stood at $51.3 billion. In plain terms = the queue of customers waiting for AI servers is large enough to fill several more quarters of shipments.
Management raised its fiscal-2027 revenue outlook to $167 billion, with AI server sales alone expected at $60 billion, far above the prior guidance of roughly $140 billion.
What is Wall Street saying?
Goldman Sachs analyst Katherine Murphy reiterated a Buy rating, citing three pillars: expanding enterprise IT hardware spend, a fiscal-2027 outlook constrained by supply rather than demand, and better-than-expected operating margins.
This means → Goldman sees Dell's problem as "can't build fast enough," not "can't sell enough." Supply constraints typically support higher margins.
Evercore ISI analyst Amit Daryanani wrote in a note: "This is what the AI super-cycle looks like."
Is the whole AI server sector rallying, not just Dell?
Fellow AI server maker HPE reported strong fiscal Q2 results pre-market Tuesday and raised full-year guidance; cloud and AI revenue reached $7.71 billion, above the $6.93 billion consensus.
HPE shares jumped roughly 28% pre-market, reinforcing the case for broad-based AI hardware demand.
Super Micro Computer (SMCI) rose 4.3% pre-market, bringing its five-day gain to 26%. This reflects a market re-pricing the entire AI server supply chain, not just a single-name bet.
The other catalyst — why is Dell going after Apple?
Beyond the earnings beat, Dell also launched new laptops aimed at competing with Apple's latest hardware.
In plain terms = Dell is signaling it isn't just an AI server winner — it hasn't abandoned the traditional PC fight either.
Both storylines firing at once gave the rally its twin catalysts.
Content is for reference only, not financial advice.