On September 4, Dell Technologies Inc. rose 3.3% in regular trading, trading at approximately $526.08 per share with turnover of $823 million, marking a third consecutive session of gains as the stock approached record highs.

The sustained rally follows the company's blockbuster fiscal Q2 results. Revenue reached $46.97 billion, up 58% year-over-year and above the consensus estimate of approximately $44.9 billion. Non-GAAP EPS came in at $7.04, surging 203% and exceeding expectations by 43%. AI-optimized server revenue hit $16.4 billion, doubling year-over-year, with backlog reaching $95 billion. The company raised full-year revenue guidance from approximately $167 billion to $192 billion, well above the Street estimate of roughly $174 billion, while lifting full-year non-GAAP EPS guidance to $25.50 versus the expected $19.10. Management highlighted that the full-year operating expense ratio of approximately 8% of revenue marks a 42-year company low. BofA raised its price target to $600 and Goldman Sachs to $570.

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