Dell Technologies Inc

Dell Technologies has been named a Zacks Rank #1 (Strong Buy), driven by sharply rising earnings estimate revisions. The company is expected to post earnings of $6.64 per share for the current quarter, a year-over-year change of +156.4%, with the Zacks Consensus Estimate rising +49.7% over the last 30 days. For the current fiscal year, the consensus earnings estimate of $25.34 points to a change of +146% from the prior year, while the next fiscal year's estimate of $29.46 indicates a +16.3% change. Revenue forecasts are equally robust: the consensus sales estimate for the current quarter of $50.89 billion indicates a year-over-year change of +88.4%, and for the current and next fiscal years, estimates of $195.95 billion and $231.46 billion indicate +72.6% and +18.1% changes, respectively. In its last reported quarter, Dell posted revenues of $46.97 billion, a year-over-year change of +57.7%, and EPS of $7.04 versus $2.32 a year ago, beating the Zacks Consensus Estimate of $45.34 billion by +3.6% on revenue and by +41.65% on EPS. Despite the strong momentum, Dell is graded D on the Zacks Value Style Score, indicating it is trading at a premium to its peers.

Micron Technology opened its new semiconductor assembly and test facility in Gujarat, India, to meet growing global demand for memory and storage driven by AI. The facility represents a combined investment of approximately $2.75B by Micron and its government partners, advancing semiconductor manufacturing capabilities in India. The site has begun commercial production, and to mark the grand opening Micron presented its first shipment of made-in-India memory modules to Dell Technologies for its laptops made in India for India. Micron expects to assemble and test tens of millions of chips at Sanand in 2026, scaling to hundreds of millions in 2027. The expansion of conventional assembly and test operations in India complements Micron's planned development of advanced manufacturing and packaging capabilities in the United States and strengthens the company's global assembly and test network.

Worldwide data center capital expenditures accelerated sharply in 2Q 2026, growing 92 percent, according to a newly published report from Dell'Oro Group. Continued AI infrastructure investment supported growth across compute, storage, networking, and physical infrastructure, while rising memory and storage prices significantly increased server average selling prices. Baron Fung, Vice President of Research at Dell'Oro Group, said spending remained concentrated in NVIDIA Blackwell Ultra and hyperscaler custom accelerators, while agentic AI created incremental demand for general-purpose compute, storage, and complementary networking. Neocloud providers and AI model builders posted the fastest capex growth among customer segments, reflecting the early stages of their infrastructure buildouts, and Dell led server OEM revenue, followed by Supermicro and Lenovo, while white-box server revenue reached a record high. Fung added that ongoing accelerator deployments and emerging agentic AI and AI-related storage workloads should sustain strong capex growth through the remainder of 2026 and beyond, although supply constraints could limit the pace at which planned infrastructure is deployed.

Dell Technologies shares rose about 5.8% to $565.15 on Tuesday after European startup Axelera AI unveiled its Europa inference processor, which Reuters reported is designed for enterprise inference workloads and is expected to appear in future systems from Dell and Supermicro. Axelera says more than 600 customers already use its technology, with signed agreements worth tens of millions of dollars and a broader potential sales pipeline that could reach $1.5 billion, an opportunity estimate rather than booked revenue. Dell's larger AI engine remains its server business, which exited the latest quarter with roughly $95 billion of AI-server backlog after shipping $16.4 billion of AI systems. Even if Axelera captured the full $1.5 billion opportunity, that would equal only about 1.6% of Dell's existing AI backlog. The strategic takeaway is that Europa gives Dell another inference supplier and potentially more power-efficient hardware choices, though Nvidia-based systems still carry far more weight in Dell's near-term AI economics.

Dell Technologies is looking to raise roughly $4 billion through an investment-grade bond sale, mainly to refinance debt coming due in 2026. The offering is expected to be split into four tranches with maturities ranging from three to 10 years, though the final amount will depend on investor demand. Most of the proceeds are expected to go toward repaying Dell's 4.9% notes due in October 2026, with the proposed 10-year tranche reportedly marketed at a spread of as much as 140 basis points over Treasuries. The timing reflects Dell's strengthening position: Bloomberg reported the company has lifted its fiscal-year sales forecast by $25 billion, and Reuters said strong demand for AI servers pushed Dell to raise its revenue and profit outlook for the second time this year. Bloomberg also reported Dell's stock has climbed roughly 340% this year.

Oracle's fiscal first-quarter results sent a powerful signal to Dell Technologies and Hewlett Packard Enterprise, whose shares surged on the read-through from the software giant's ballooning AI infrastructure commitments. Oracle's total revenue rose 30% to $19.3 billion, cloud infrastructure revenue surged 121% to $7.4 billion, and remaining performance obligations climbed $209 billion to $664 billion. Oracle said it added 850 megawatts of data center capacity in the quarter and more than 300,000 GPUs to AI cloud clients since the end of its previous quarter, and won more than $30 billion in new AI-related cloud services contracts. Dell, which reported record fiscal second-quarter revenue of $47 billion, up 58% year-over-year, booked a record $60.9 billion of AI server orders and exited the quarter with a $95 billion AI server backlog, lifting its fiscal 2027 revenue forecast by $25 billion to $192 billion. HPE reported record fiscal third-quarter revenue of $12.2 billion, up 34%, with its Cloud & AI segment earning $9.04 billion, up 25%, and server revenue rising 35% to $6.77 billion. Oracle's buildout is capital-intensive: it posted record first-quarter operating cash flow of $23 billion but negative $5 billion in free cash flow, sold $20 billion in stock, and raised $43 billion in debt and $5 billion in equity in fiscal 2026 against a $23.7 billion negative free cash flow, with plans to raise $40 billion in debt and equity in fiscal 2027. The Federal Reserve left its benchmark rate unchanged at 3.5% to 3.75% at its July meeting, with its next policy meeting scheduled for Sept. 15-16.

Dell Technologies raised its fiscal 2027 profit and revenue outlook for the second time this year, sending shares up 9%, as surging AI server demand drove a record quarter. The company now expects $25.50 in adjusted earnings per share on $192 billion in revenue, up from a May outlook of $17.90 per share and $165 billion to $169 billion, and well above analyst estimates of $18.92 per share and $172.67 billion. Dell lifted its fiscal 2027 AI-optimized server revenue forecast to $74 billion, up from $60 billion and more than triple the $25 billion it shipped in fiscal 2026. Second-quarter revenue hit a record $47 billion, up 58% year over year and above the $44.92 billion estimate, with adjusted EPS of $7.04 versus a $4.91 estimate, while AI server orders reached a record $60.9 billion and pushed Dell's backlog to $95 billion, more than double the $43 billion reported at the end of fiscal 2026. Dell's AI customer base has passed 6,500, with 3,300 added over the past three quarters, and its Infrastructure Solutions Group generated $31.8 billion in revenue, up 89% year over year, while the company returned $4.3 billion through buybacks and dividends in the quarter.

Shares of Dell, Hewlett Packard Enterprise and HP each jumped 8% or more in Friday morning trading, lifted by sustained enterprise AI demand and a PC refresh cycle. HPE also got a boost from strong earnings at Oracle, which earlier this month announced a partnership to deploy HPE's routing and switching platforms across all of its data centers as it scales AI infrastructure; Oracle's remaining performance obligations grew $209B in the first quarter to $664B, including more than $30B in additional AI cloud contracts. Dell received an Outperform rating and a $640 price target as RBC Capital Markets initiated coverage, with analyst David Paige noting Dell exited 2Q27 with $95bn in AI server backlog and converted roughly $132bn into orders over the last twelve months. RBC also initiated coverage on HP with a Sector Perform rating and a $33 target, citing AI PC adoption, edge computing and data privacy needs, and noting HP is targeting AI PC shipments of 60-70% by FY27, up from about 45% in 3Q26.

NVIDIA has handed the software running the 1.3 million-part supply chain inside every Vera Rubin rack to Palantir, expanding a partnership that fuses Palantir Foundry and AIP with NVIDIA Nemotron open models grounded in Palantir Ontology. The reference architecture, called SAIOS, runs on hardware from Dell Technologies and Cisco for on-premises deployment, while Rackspace and Nebius enable co-location and cloud options. NVIDIA CEO Jensen Huang called supply chains "the operating system of the physical economy," and Palantir CEO Alex Karp said the sovereign stack is "delivering capabilities that exceed the frontier while providing alpha protection qualities unavailable otherwise." The endorsement lands as Palantir shares traded at $167.15 midday Thursday, down 1.41% on the session, and are down 6.2% year to date even as NVIDIA has climbed 17.52%. Palantir's Q2 FY2026 revenue reached a record $1.94 billion, up 92.83% year over year, with adjusted EPS of $0.41 versus a $0.28 consensus, U.S. commercial revenue up 149% to $764 million, and full-year revenue guidance raised to $8.150 to $8.158 billion, yet the stock carries a P/E of 240 and a market cap near $383.9 billion.

Dell Technologies booked $61 billion in artificial intelligence server orders during the second quarter, up from $24 billion in the first quarter, with COO Jeff Clarke saying the pipeline "remains multiples of our backlog." AI server revenue grew 100% to $16.4 billion, while traditional servers and networking revenue rose 122% year over year, lifting total revenue 58% to a record $47 billion. The AI backlog now stands at $95 billion, up from $51.3 billion last quarter, and the company expects full-year growth of around 70%. Adjusted earnings per share of $7.04 came in well above analyst estimates of roughly $5, and management raised guidance to $25.50 for the year. Infrastructure segment operating income grew 225% to $4.8 billion with margins expanding 620 basis points to 15%, though services revenue was flat at $5.9 billion. Shares are up 16% since the earnings report and now trade at roughly 18 times forward earnings.

Palantir Technologies and NVIDIA announced a collaboration to bring sovereign AI to critical supply chains, starting with NVIDIA's own operations. The deployment creates an AI stack that brings NVIDIA Nemotron open models into Palantir Foundry and Artificial Intelligence Platform, grounded in the Palantir Ontology, aimed at creating supply-chain visibility, identifying constraints and guiding decisions at machine speed. NVIDIA operates one of the most complex supply chains, spanning millions of parts, thousands of suppliers and a global network of manufacturing partners, with 1.3 million parts in each NVIDIA Vera Rubin rack. The deployment runs on NVIDIA reference architectures and the jointly developed Palantir Sovereign AI Operating System Reference Architecture, supported by Dell Technologies and Cisco, and can be deployed on premises with Cisco and Dell or in the co-lo and cloud with Rackspace and Nebius. The AI stack and its applications across industries will be showcased at Palantir's AIPCon 11.

Michael Dell surpassed Jeff Bezos in Forbes' billionaire rankings on Tuesday, reaching the third spot on the wealth list for the first time as Dell Technologies stock closed at a record high. By Tuesday's closing bell, Dell's fortune had grown by $4.6 billion to an estimated $267.7 billion, according to Forbes. Dell Technologies stock rose 1.9% to close at $533.88, touching an intraday high of $538.47. Bezos' net worth fell $1.4 billion to $265.2 billion as Amazon stock slipped 0.6%. Dell now trails only Alphabet co-founder Larry Page, worth an estimated $277.9 billion, and Tesla chief Elon Musk at $942 billion. Dell Technologies stock has surged 327% year-to-date, opening the period at roughly $128 per share. Michael Dell holds roughly a 40% stake in the company and has significant holdings in DFO Management, his private investment firm. That wealth growth, which has more than doubled his net worth over the past year, lifted him above Meta co-founder Mark Zuckerberg and Oracle co-founder Larry Ellison on the rankings in recent months, according to Forbes. The stock surge has been driven by booming demand for artificial intelligence hardware. In last week's second-quarter earnings report, Dell Technologies posted record quarterly revenue of $47 billion, a 58% year-over-year jump, alongside adjusted earnings per share of $7.04 — more than triple the figure from twelve months prior. The AI-optimized server segment generated $16.4 billion in revenue for the quarter, twice the prior-year total, while new orders hit a record $60.9 billion. The company ended the quarter with a backlog of $95 billion in AI servers. On the strength of those results, Dell Technologies raised its full-year revenue guidance by $25 billion to $192 billion, with $74 billion expected from AI-optimized server sales. Full-year adjusted EPS guidance was lifted to $25.50 from a prior forecast of $17.90. "Our advantages reinforce one another, and throughout the quarter we used these strengths to drive growth, share gains, profitability, and cash generation," CFO David Kennedy said in a statement. Dell Technologies has been expanding its AI product lineup beyond servers. The company introduced an on-premises AI agent product built on Nvidia software aimed at giving enterprises an alternative to running AI workloads in the cloud, a market it has been targeting as agentic AI costs increase for enterprise buyers.

Artificial intelligence (AI) technology has begun to generate real applications and revenue at the enterprise level, creating a chain of positive impacts from software and cloud to semiconductors. Yuanta Securities noted that AI adoption is transforming software costs into cloud revenue, with companies like Snowflake, Salesforce, and ServiceNow benefiting from AI agents, while NVIDIA is expanding its moat by controlling the source through Hugging Face. However, SEMICON Taiwan 2026 highlighted bottlenecks, such as TSMC's demand for chip-making equipment nearly doubling in six months, and memory issues that forced Google to reuse DDR4. The Asian supply chain is fully benefiting, with South Korea's semiconductor exports surging 209% year-over-year. Earnings from Dell, Broadcom, Snowflake, Credo, and Palo Alto Networks reflect strong demand, such as Dell's record-high AI server orders at $60.9 billion and Broadcom's AI revenue growing 221%.

Super Micro Computer shares rose 4% to $41.07 in midday trading after the company reported a fiscal Q4 2026 non-GAAP gross margin of 17.6%, well above its prior guidance, but management has already guided the current quarter's margin down to 10.4% to 10.8%. The beat was driven by favorable customer and product mix, with CFO David Weigand noting a non-recurring benefit from lower tariff costs and inventory reserves. Meanwhile, Hewlett Packard Enterprise advanced 5% to $54.71 without any fresh company news, and Dell Technologies lifted its fiscal 2027 revenue guidance to $192 billion on record AI orders of $60.9 billion. The rally is narrow to the AI server sector, with the Invesco QQQ Trust essentially flat. Super Micro's fiscal 2027 revenue guidance stands at $65 billion to $72 billion, but the margin reset highlights the tension between booming demand and normalizing profitability.

Dell Technologies and NVIDIA both reported blockbuster AI quarters, revealing a direct competition for enterprise AI infrastructure spending. Dell posted $46.97 billion in Q2 FY27 revenue, up 57.75% year over year, with AI-Optimized Servers hitting $16.4 billion and a record $95 billion backlog, while NVIDIA cleared $96.22 billion in revenue, up 105.85%, with data center revenue at $89.02 billion and 75% gross margins. Dell's free cash flow fell 47% to under $1 billion due to AI-server mix, but its $170 billion market cap offers cheaper exposure to the AI wave compared to NVIDIA's $5.56 trillion. NVIDIA is moving up the stack into rack-scale systems, directly challenging Dell's integrator role, while Dell's AI customer count crossed 6,500. Analysts suggest NVIDIA for compounding platform economics, but Dell for turnaround-flavored operating leverage, with Dell's year-to-date rally of 320.24% reflecting a re-rating of its integrator role.

Dell Technologies has introduced the Dell 14S, an affordable lightweight laptop aimed at students and young adults, as part of its strategy to broaden its consumer portfolio and compete more effectively against HP and Apple. The device features a 13.5mm aluminum chassis, weighs 1.15 kg, offers up to 21 hours of battery life, and comes with 2K 60Hz or 2.8K 120Hz display options, powered by Intel Core 5 and Core 7 Series 3 processors. Expected to be available in North America this fall, the Dell 14S complements the premium XPS 13, helping Dell address a wider range of price points. In the second quarter of fiscal 2027, Dell's consumer revenues rose 7% year over year to $1.8 billion, marking the fourth consecutive quarter of growth, while total Client Solutions Group revenues increased 20% to $15 billion, with operating income of $1.1 billion. Dell expects CSG revenues to grow roughly 15% in the fiscal third quarter and in the mid-teens for fiscal 2027. However, Dell faces stiff competition: HP's Personal Systems revenues climbed 18% to a record $11.8 billion in the third quarter of fiscal 2026, with AI PCs representing 46% of its mix, and Apple's Mac revenues surged 29% to $10.4 billion, driven by strong education demand for MacBook Neo. Dell's stock has appreciated 316.3% year to date, and the Zacks Consensus Estimate for its earnings is $6.64 per share, up by $2.32 over the past 30 days, suggesting 156.37% growth.

Dell Technologies, one of the top-performing S&P 500 stocks over the past year with shares up 310%, has raised its fiscal 2027 forecast after a record first half, projecting adjusted EPS growth of 150% to $25.50 and revenue of $192 billion, up about 70%. The company's AI business is booming, with Q2 revenue up 58% to $47 billion, adjusted EPS up 203% to $7.04, and a record $60.9 billion in AI-related orders booked during the quarter. Dell ended the quarter with an AI backlog of approximately $95 billion, and its pipeline remains several times larger. Traditional server revenue surged 122%, storage grew 26%, and the company now serves over 6,500 AI infrastructure customers. Despite the massive rally, Dell trades at about 24.9 times forward earnings, which analysts see as reasonable given the projected growth, and most maintain a Strong Buy rating.

Earnings season continues to deliver blockbuster AI numbers, with Broadcom, Dell, and Hewlett Packard Enterprise all reporting surging demand. Broadcom's revenue jumped 86% year over year, with adjusted earnings per share up 96%, driven by AI semiconductor revenue tripling to $16.7 billion. CEO Hock Tan projected shipping $350 billion in AI chips to six hyperscaler customers over the next two years. Dell's revenue outlook exceeded estimates by $25 billion, and Nvidia projected 70% sales growth. Hewlett Packard Enterprise reported fiscal third-quarter revenue of $12.21 billion, up 34%, with adjusted EPS climbing over 30% to $1.11, and raised its full-year growth outlook to as high as 37%. Despite the strong results, HPE shares fell on profit-taking, which the author calls 'nuts.' The upbeat reports come ahead of the Goldman Sachs Communacopia tech conference, where the author will interview C-suite executives and cover potential IPOs from OpenAI and Anthropic.

Intel shares climbed over 7% this week after an analyst report highlighted the chipmaker's AI-driven growth potential. Global Equities Research analyst Trip Chowdhry predicts Intel's annual earnings per share will grow more than tenfold to $20 by 2031, and the stock price could more than double to $200. Chowdhry cites Dell's recent earnings, where traditional server revenue surged 122% to $10.5 billion in the second quarter, as evidence of growing demand for Intel CPUs in AI and agentic workflows. This contrasts with Wall Street consensus estimates of $1.51 EPS in 2026 and $2.04 in 2027.

In a notable earnings week, seven of eight key S&P 500 companies beat consensus EPS estimates, with all eight posting year-over-year profit growth, though revenue performance was mixed. Dell Technologies jumped 15.81% after reporting a 58% revenue increase to $46.97 billion and adjusted EPS of $7.04, driven by AI server demand, and guided third-quarter revenue to $49 billion. Palo Alto Networks slipped 9.28% despite beating estimates with revenue up 34% to $3.41 billion and adjusted EPS of $1.02, while issuing an optimistic forecast. Medtronic rose 1.53% after revenue grew 13.8% to $9.76 billion and raised its full-year guidance. Broadcom dropped 2.7% on lower-than-expected Q4 revenue guidance despite strong Q3 results with revenue up 86% to $29.59 billion. Lululemon shares fell nearly 20% after cutting its full-year sales forecast to $10.35B-$10.50B, down from $11.0B-$11.50B, due to declining China sales. Brown-Forman gained 3.87% on mixed results, NetApp rose 2.55% despite a free cash flow drop, and Campbell's fell 6.96% after missing revenue estimates and cutting its dividend by 36%.

Michael Dell's net worth has surged past $100 billion in 2026, driven by record-high Dell Technologies shares after strong second-quarter results. Dell, who owns roughly 40% of the company and a large stake in Broadcom, added $101 billion to his wealth this year, ranking second only to Elon Musk's $249 billion gain. Heading into Thursday, Dell ranked fifth on the Bloomberg Billionaire Index with $241 billion, near his all-time high of $249 billion estimated in August. Dell's AI server business booked a record $60.9 billion in orders, and the company ended the quarter with a $95 billion backlog, with third-quarter guidance exceeding analyst expectations. Dell stock is up over 300% year-to-date in 2026.

Dell Technologies surged 16% to close at $492.20 after reporting fiscal second-quarter results that beat expectations, with revenue of $46.971 billion, up 57.75% year over year, and adjusted EPS of $7.04 against a consensus of $4.8994. The company also raised its fiscal 2027 revenue outlook by $25 billion to $192 billion, with non-GAAP EPS guided to $25.50. However, despite record AI server revenue of $16.401 billion and a backlog of $95 billion, gross margin fell to 21.1% and free cash flow dropped 47.22% to $986 million, highlighting the pressure from memory costs. Chief market strategist Nur al-Din al-Hamawi of Equity Group told Bloomberg that tech is "still leading with fundamentals," citing Dell as evidence, but the margin squeeze suggests that component makers like NVIDIA, with a 75% gross margin, capture more of the AI server profits than assemblers like Dell.

Broadcom's latest earnings report, which sent shares down 3% in pre-market trading despite strong results, may deserve a second look as the company's AI revenue outlook echoes the bullish forecasts from Dell and Nvidia. Broadcom reported revenue of $29.59 billion, up 86% year-over-year, and adjusted earnings per share of $3.32, up 96%, both beating Wall Street expectations. The surge was driven by hyperscaler demand for custom AI chips and networking gear, with quarterly AI semiconductor revenue tripling to $16.7 billion. CEO Hock Tan projected $350 billion in AI semiconductor shipments to six key hyperscaler customers over fiscal 2027 and 2028, and said AI networking revenue is expected to grow as fast as XPUs. JPMorgan analyst Harlan Sur raised estimates and maintained an Overweight rating, calling the outlook strong and conservative. This follows Dell's fiscal 2027 revenue guidance $25 billion above estimates and Nvidia's forecast of 70% revenue growth for fiscal 2028, both countering the bearish AI-peaking thesis.

Dell Technologies reported second-quarter earnings per share of $7.04, beating the Zacks Consensus Estimate of $4.97 by 41.65%, and marking its 18th earnings beat in the past 20 quarters. The company achieved record revenue, record AI server revenue, record traditional server and networking revenue, record storage revenue, and record operating income, with overall revenue jumping 89% year over year. Traditional server and networking revenue surged 122%, while AI-optimized server revenue doubled. Management raised its outlook, citing expectations that AI will account for 75% of all data center demand by 2030, and analysts project revenue and earnings per share will double again by 2028. Dell shares have held their 50-day moving average since February, showing relative strength compared to AI peers.

NVIDIA shares rose 4% to $225.96 after Bloomberg reported the chipmaker is in advanced talks to acquire AI platform Hugging Face for $12.9 billion, with roughly another $1 billion potentially going toward employee retention, though no final deal has been reached. Meanwhile, Dell Technologies jumped 8% to $457.15 after raising its full-year revenue outlook by about $25 billion and posting its largest quarter on record, with fiscal second-quarter revenue of $46.97 billion, up 57.8% year over year, and adjusted EPS of $7.04. Dell's AI-Optimized Servers revenue doubled to $16.4 billion, and the company booked a record $60.9 billion in AI orders, while its full-year fiscal 2027 revenue guidance was raised to $192 billion, with non-GAAP EPS guidance lifted to $25.50. The iShares Semiconductor ETF gained just 0.2%, indicating today's buying is concentrated in these two names rather than a broader sector-wide AI hardware bid. Dell's year-to-date gain of 241% dwarfs NVIDIA's 17%, reframing the server maker as the deployment-layer beneficiary capturing more AI buildout upside.

Dell Technologies Inc is up 3.9% after posting better-than-expected second-quarter earnings and revenue and raising its full-year forecast amid strong AI server demand, with options volume running at 2.9 times the usual intraday amount. Credo Technology Group Holding Ltd is down 19% despite beating fiscal first-quarter estimates, as margin concerns overshadow the upbeat results; adjusted gross margin slipped to 68% from 68.3% in the previous quarter, and the company forecast fiscal second-quarter adjusted gross margin of 67% to 69%. GitLab Inc is up 17.1% after reporting strong fiscal second-quarter results, with revenue rising 21.3% year over year to $286.25 million, topping the $273.3 million consensus estimate, and earnings of 24 cents per share beating the 18-cent estimate. Sunrun Inc is up 0.8% today, bouncing back after a 52-week low yesterday, with options traders targeting the solar stock "on the dip" and calls accounting for 99% of the roughly 52,000 contracts exchanged. Ally Financial Inc is up 3.3% after Raymond James resumed coverage with a "strong buy" rating and $55 price target, with options volume running at 2.3 times the usual intraday amount.

Jim Cramer told his followers on X Wednesday morning that Dell is the most important stock today and that it must finish up big, hours after he called Dell's quarter one of the best he's ever seen. Dell Technologies has surged 240.76% year to date through September 1, while NVIDIA is up only 16.73%, driven by a record $95 billion AI server backlog and a 203% operating income growth. Dell's Q2 FY27 revenue came in at $46.97 billion, up 57.8% year over year, beating consensus by 5.69%, and adjusted EPS of $7.04 beat estimates by 43.69%. The company raised its full-year revenue outlook by $25 billion to $192 billion and lifted non-GAAP EPS guidance to $25.50. Cramer also noted that his charitable trust's cash position is above 15%, the highest in 25 years, while Dell trades at a P/E of roughly 23 versus NVIDIA's 44.

Dell Technologies stock is jumping Wednesday morning after the company issued fiscal year 2027 revenue guidance that came in about $25 billion above analyst estimates. The server and PC maker's ticker page became the most visited on the Yahoo Finance platform, reflecting intense investor interest. For perspective, the raised guidance is more than Macy's estimated annual sales of $22 billion. The ultra-bullish sentiment also extended to Nvidia, which reported a rare long-term outlook projecting 70% revenue growth for fiscal year 2028, surpassing analyst forecasts of 45% growth. Nvidia's CEO noted that sales growth would exceed 100% if not for memory chip shortages.

Oil hovered close to $95 a barrel as the U.S. and Iran exchanged fresh strikes, putting further pressure on sovereign debt, though bond yields pulled back from earlier multiyear highs in European afternoon trade. Brent crude pulled back from earlier highs after the latest fighting, before President Trump said he "couldn't care less" if Tehran signs an agreement to reopen the Strait of Hormuz. U.S. Treasury yields hit fresh highs before easing, with 10-year notes down 1.3 basis points to 4.783% after touching a near three-year high of 4.904%, and 30-year yields slipping 2.1 basis points to 5.255%. Investors price in a 63% probability of a Federal Reserve rate hike this month, according to LSEG. Eurozone bonds continued to sell off, with 10-year German Bund yields at their highest since 2011 and U.K. 10-year yields at their highest since 2007. In equities, U.S. stock futures were mixed, with Nasdaq futures edging 0.05% lower, while Dell Technologies jumped about 9% premarket after lifting its fiscal-year revenue targets by $25 billion. Asian and European equities largely fell, with Korea's Kospi sliding 4% as chip makers Samsung Electronics and SK Hynix lost 4% and 4.6%, respectively. Gold fell 0.3% to $4,383.60 a troy ounce, its lowest in three weeks, and Bitcoin slipped 0.8% to $76,794.83. Investors await the August ADP report and the Fed's Beige Book, with Broadcom, Snowflake, and Hewlett Packard reporting earnings after the bell.

U.S. stock index futures edged lower on Wednesday as investors contended with a global bond selloff, elevated energy prices, and expectations of a Federal Reserve rate hike, pressuring rate-sensitive tech stocks. Dell Technologies climbed nearly 10% after raising its annual revenue and profit forecasts on strong demand for AI-optimized servers, while Hewlett Packard Enterprise rose 4.7% ahead of its earnings. MongoDB tumbled 13.6% despite beating fiscal second-quarter estimates, as investors focused on outlook and valuation. GitLab surged 22% after delivering strong results and raising full-year guidance. Uber Technologies rose 2.4% on plans to cut about 3,300 jobs, and Sirius XM gained 3.1% after a Deutsche Bank upgrade.

Vertiv announced the $1.45 billion acquisition of UtilityInnovation Group, with up to $1.15 billion in additional consideration tied to EBITDA targets over 12- and 24-month periods, sending its shares down less than 1% premarket. Sirius rose over 3% after Deutsche Bank upgraded it to buy with a $45 price target, implying more than 60% upside. Dell Technologies jumped 8% after beating expectations and lifting its fiscal 2027 forecast on strength in AI services. Palo Alto Networks fell nearly 2% despite beating earnings estimates, while MongoDB dropped 13% despite better-than-expected results and guidance. Credo Technology declined about 9% after its non-GAAP gross margin slightly missed expectations.

Stock futures were mixed early Wednesday as investors awaited key economic data and the Federal Reserve's Beige Book, with sentiment constrained by U.S.-Iran strikes and rising global bond yields. Among the biggest movers, GitLab jumped 22% after topping Q2 expectations with revenue up 21% to $286.3M and issuing upbeat guidance, while Dell Technologies surged 10% on strong FQ2 results, including revenue up 58% to $46.97B and adjusted EPS of $7.04. Dell also raised FY2027 revenue guidance by $25B to $192B, well above the $173.3B consensus, driven by an increased AI-optimized server revenue outlook to $74B from $60B, with AI server orders reaching a record $60.9B and a $95B backlog. On the downside, MongoDB fell 15% despite beating estimates with 30% revenue growth and raising its full-year outlook, as higher operating expenses overshadowed results, while Credo Technology dropped 7% despite revenue more than doubling to $479M, due to margin pressure and rising costs.