Dell Technologies Inc. (NYSE:DELL) surged to a new 52-week high after Wall Street analysts raised price forecasts ahead of the company’s upcoming earnings report.
Recently, Dell doubled down on its AI infrastructure strategy through major product launches and expanded partnerships at Dell Technologies World 2026.
The stock also got a boost from rival Lenovo’s (OTC:LNVGF) (OTC:LNVGY) upbeat quarterly results.
Analysts Raise Price Forecasts Ahead Of Earnings
Several Wall Street firms turned more bullish on Dell ahead of its May 28 fiscal first-quarter 2027 earnings report, citing accelerating demand for AI infrastructure and growing enterprise adoption.
Wells Fargo analyst Aaron Rakers increased his forecast to $270 from $180 and maintained a Buy-equivalent rating. Morgan Stanley, which maintained an Underweight rating, raised its forecast to $170 from $110.
Analysts expect the company to report fiscal first-quarter 2027 adjusted earnings of $2.91 per share, up from $1.55 per share a year earlier, on revenue of $35.68 billion, compared with $23.38 billion in the prior-year quarter.
The company previously disclosed fiscal 2026 AI orders totaling $64.1 billion and AI shipments worth $25.2 billion. The company exited the year with a $43 billion AI backlog and guided toward roughly $50 billion in AI revenue for fiscal 2027, implying approximately 100% annual growth.
Investors also expect management to raise full-year earnings guidance as AI server demand continues to accelerate.
Jensen Huang And Michael Dell Highlight ‘Parabolic’ AI Demand
At Dell Technologies World 2026 on May 18, Dell CEO Michael Dell and NVIDIA Corp (NASDAQ:NVDA) CEO Jensen Huang emphasized the rapid expansion in demand for enterprise AI infrastructure.
Michael Dell said global AI infrastructure spending could reach $3 trillion to $4 trillion by 2030, while token consumption could rise 3,400% during the same period.
Huang described AI demand as ‘utterly parabolic’ as enterprises move from experimental AI pilots into large-scale deployment of agentic AI and inference systems.
DELL Price Action: Dell Technologies shares were up 14.91% at $290.49 at the time of publication on Friday. The stock is trading at a new 52-week high, according to Benzinga Pro data.
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