TLDR:DELL stock reached $580 on October 9, extending its year-to-date gain to about 361%.Goldman Sachs maintained its Buy rating and $570 target despite ongoing AI hardware supply constraints.Dell booked $60.9 billion in AI server orders and ended the latest quarter with a $95 billion backlog.Trump’s brokerage account sold up to $1 million in Dell shares during August, according to disclosures.Dell Technologies (DELL) stock rose to $580 on Friday as Goldman Sachs maintained its Buy rating and $570 price target. Shares gained 0.95% during early trading, extending their 361% year-to-date rally despite new disclosures showing President Donald Trump’s account sold Dell shares. The latest developments follow a period of strong AI server demand, which has supported Dell’s earnings growth and rising valuation.DELL Stock Trades Above Goldman Sachs’ $570 Price TargetGoldman Sachs analyst Katherine Murphy reiterated her Buy rating on Dell Technologies, citing continued demand for artificial intelligence infrastructure. The bank maintained its $570 price target despite concerns about memory shortages and limited supplies of other computer components.Murphy expects these constraints to continue into 2027, although Dell’s purchasing scale could help it manage supply pressures. At $580, DELL stock traded approximately 1.8% above Goldman’s target, following a gain of $5.45 from Thursday’s closing price.The shares remained below their 52-week high of $595.51, while Dell’s market capitalization stood near $365.31 billion. The company’s latest financial results provide context for the rating, as demand for AI servers continues supporting revenue growth. Dell reported $60.9 billion in AI server orders during its fiscal second quarter, bringing its outstanding order backlog to $95 billion. Quarterly revenue increased 58% from the previous year to approximately $47 billion, while adjusted earnings per share reached $7.04. The company also raised its annual revenue forecast to $192 billion, reflecting stronger demand across its infrastructure business. However, analysts remain divided on the stock’s valuation following its rally.Recent Wall Street price target revisions show Susquehanna targeting $700, while RBC Capital maintains a $640 objective. TD Cowen has a Hold rating and a $550 target, placing its valuation below the current market price. Earlier analyst expectations for Dell stock also reflected confidence in AI demand, although concerns about valuation remained.Trump’s Dell Stock Sales Draw Attention as AI Demand GrowsThe latest DELL stock gains coincide with financial disclosures showing that President Donald Trump’s brokerage account sold Dell shares in August. According to a federal ethics filing released October 8, the account sold between $500,001 and $1 million in Dell stock on August 21. A second transaction on August 28 involved another $15,001 to $50,000 in shares.The disclosures followed several public statements in which Trump encouraged Americans to purchase Dell computers. Trump’s account previously purchased between $1 million and $5 million in Dell shares during February, before the stock’s subsequent rally.However, the White House said the president does not personally direct investment decisions within the accounts. Spokesman Davis Ingle said the holdings are independently managed through discretionary arrangements and computer-based trading models.The Trump Organization also stated that neither Trump nor his family approves individual transactions. The disclosures follow earlier attention surrounding Trump’s public support for Dell, including statements made during the launch of Trump Accounts.Meanwhile, Dell’s operating performance remains closely tied to spending on AI data centers and enterprise computing infrastructure. Recent Dell stock analyst upgrades have reflected expectations that the company’s AI server backlog will support future revenue.For Dell stock, the next financial results will provide further evidence of how quickly those orders convert into sales. Memory shortages, delivery schedules, and profit margins will also remain important measures as Dell works through its outstanding orders.The post DELL Stock Hits $580 as Goldman Sachs Maintains Buy Rating Despite Trump’s Share Sales appeared first on Blockonomi.