RBC Capital Markets

Dell Technologies’ stock surged 10% following RBC Capital Markets’ “outperform” rating and $640 price target. The company’s shares have quadrupled year-to-date, driven by its strong position supplying Nvidia-powered servers for the AI boom. RBC estimates a $95 billion server order backlog and highlights Dell’s strategic advantage in AI infrastructure, robust supply chain, and comprehensive product portfolio. Dell’s recent earnings surpassed expectations, leading to an upward revision of its full-year revenue forecast.