Dell Technologies posted stronger-than-expected fiscal Q1 results and raised guidance, driven by surging AI data center hardware demand.
Dell Technologies (DELL) shares jumped 34% Friday after the company reported fiscal first-quarter earnings that crushed Wall Street estimates and raised its outlook. The surge was fueled by robust sales of AI-optimized data center hardware, exceeding consensus forecasts.
Analysts had anticipated weaker performance, but Dell’s results and guidance prompted at least 14 price target increases. The company’s AI-driven growth outpaced expectations, contrasting with broader market caution in the tech sector.
The Dow Jones index rose modestly amid U.S.-Iran deal optimism, but Dell’s earnings stood out as a key driver of Friday’s market activity.