Dell shares jumped 10% on Friday after RBC raised price target to $640, with stock up nearly 350% in 2026
Dell Technologies stock rose significantly following a rating upgrade by RBC Capital Markets, which highlighted the company's strong position in AI infrastructure spending and a $95 billion server backlog.
Dell Technologies Inc. shares gained 10% during Friday trading sessions after RBC Capital Markets initiated coverage with an outperform rating and a price target of $640. This rise occurred as Dell stock climbed nearly 350% throughout 2026, transforming the longtime PC manufacturer into a top vendor for Nvidia-based servers used by cloud companies and enterprises for artificial intelligence applications. RBC analyst David Paige stated that the company is well positioned to benefit from an ongoing multi-year AI infrastructure spending cycle with no signs of slowing. Dell reported holding $95 billion in server orders in its backlog while selling approximately $16.4 billion in AI servers during its second quarter. Earlier in the month, the company reported Q2 earnings that exceeded market estimates and revised its full-year fiscal forecast up to $192 billion, representing a nearly 70% increase in sales compared to the previous year.
