Dell Stock Hits All-Time High as as Michael Dell Becomes Third Richest Person on Earth
TLDR
- DELL surged 11.8% Friday, hitting an all-time high of $567.75
- RBC Capital Markets initiated coverage with an Outperform rating and $640 price target
- AI server orders hit $60.9 billion with a $95 billion backlog driving the rally
- Michael Dell’s net worth jumped to $274 billion, pushing him to No. 3 on the Forbes billionaires list
- Risks include insider selling, supply shortages, and a planned $4 billion bond offering
Dell Technologies (DELL) hit an all-time high of $567.75 on Friday, closing up 11.8% at around $566.62. The stock had previously closed at $506.62, and trading volume jumped 71% above the daily average.
The rally came after RBC Capital Markets initiated coverage with an Outperform rating and a $640 price target. RBC pointed to Dell’s exposure to enterprise AI investment, compute modernization, storage expansion, and PC refresh cycles as key reasons for the call.
Goldman Sachs also raised its price target from $510 to $570, keeping a Buy rating. Barclays lifted its target from $550 to $603 with an Overweight rating. Fox Advisors upgraded the stock from Equal Weight to Overweight, setting a $625 target.
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