Goldman Sachs Raises Price Target on Dell Technologies (DELL) Following Strong AI Server Demand

Dell Technologies Inc. (NYSE:DELL) ranks among the best tech stocks to buy now for the “Vera Rubin” chip cycle. Following Dell Technologies Inc. (NYSE:DELL)’s first-quarter fiscal 2027 results, Goldman Sachs boosted its price objective for the stock to $500 from $230 with a Buy rating on June 1. The company posted earnings per share of $4.86, above Goldman Sachs’ consensus and company expectations.

Dell’s AI server order book also hit $24 billion in orders, along with a $50.3 billion backlog. The company stated that demand remains ahead of supply, with DRAM, NAND, and CPUs being the key limitations, and that it expects to have a significant backlog by the end of the year.

Furthermore, on the same day, Truist Securities boosted its price objective for Dell Technologies Inc. (NYSE:DELL) to $360 from $170 while retaining a Hold rating on the company’s shares. The firm cited unusually strong demand and constrained supply conditions in its report.

The firm expects potential upside to Dell’s indicated deceleration in second-half sales, as long as the company can generate sufficient supply to fulfill demand. Truist’s fiscal 2027 revenue prediction of $174.3 billion is comparable to Dell’s projection range of $165 billion to $169 billion.

​Dell Technologies Inc. (NYSE:DELL) is an American multinational technology company that designs, develops, manufactures, markets, sells, and supports integrated technology solutions, products, and services.

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