GoKawiilRBC starts Dell at outperform with $640 target, shares jump 10%
Dell Technologies stock surged 10% on Friday after RBC Capital Markets began coverage with an outperform rating and a $640 price target. The move adds to a rally that has already lifted Dell shares nearly 350% in 2026, driven by its growing role supplying Nvidia-based servers to cloud and enterprise customers building out AI infrastructure.
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Dell's transformation from a legacy PC maker into a key AI hardware supplier shows how the AI buildout is reshaping valuations across the tech hardware sector. With a $95 billion order backlog and raised full-year sales guidance near $192 billion, the company's trajectory offers a benchmark for how much upside investors expect from firms tied to Nvidia's server ecosystem.
- RBC's outperform rating and $640 target sparked a 10% single-day stock jump.
- Dell holds a $95 billion unfilled server backlog and sold $16.4 billion in AI servers last quarter.
- Full-year sales guidance was raised to $192 billion, implying nearly 70% annual growth.
Dell XPS 13 Laptop — While Dell's AI server backlog is grabbing headlines, its consumer side still turns out the XPS 13 — the thin-and-light that made Dell's name with PC buyers. It's a great pick if the article has you curious about what Dell actually puts in your hands rather than in a data center.
See Dell XPS 13 Laptop on Amazon → Affiliate link — we may earn a commission on purchases, at no extra cost to you. Product picked by AI based on this article; it is not a tested recommendation.Source: cnbc.com — Kif Leswing, 2026-09-11
Published there as: “Dell stock jumps on RBC initiation, now up nearly 350% in 2026”
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