Dell Technologies shares surged in Friday cash trading after RBC Capital Markets initiated coverage at Outperform with a $640 price target, citing the company’s AI-server backlog. CNBC put the regular-session close at $567.29, up $60.67 or 11.98%, with TradingKey matching that stamp. The session high was $567.75, above the close, and the open was $518.07 against a prior close of $506.62.
RBC analyst David Paige’s Thursday note, reported by CNBC on Friday, pointed to about $95 billion in server order backlog not yet started and roughly $16.4 billion of AI-server sales in Dell’s second quarter. Paige said Dell remains well positioned for a multi-year AI infrastructure spending cycle. CNBC also noted Dell raised its full-year revenue forecast to $192 billion. The move is a Dell and RBC initiation story, distinct from Hewlett Packard Enterprise’s Oracle CapEx sympathy tape earlier Friday. After-hours quotes drifted slightly below the cash close and are not the official Friday finish.
Sources: CNBC Dell/RBC article (Kif Leswing; Outperform/$640; $95B backlog; ~$16.4B Q2 AI servers); CNBC DELL quote (close $567.29 +11.98%; high $567.75); Kiplinger close wrap; TradingKey close card.
