Key TakeawaysDell Technologies delivered second-quarter revenue of $46.97 billion, representing a 58% year-over-year increase and exceeding analyst projections of $44.89 billionNon-GAAP earnings per share reached $7.04, significantly surpassing the Street’s $4.91 expectationThe company’s AI server order book climbed to $61 billion, bringing the cumulative AI backlog to roughly $95 billionManagement elevated fiscal 2027 revenue projections to around $192 billion while boosting non-GAAP EPS outlook to $25.50Wall Street firms responded with upgraded price objectives, led by JPMorgan’s $635 target and Mizuho’s $600 forecast, maintaining a consensus “Moderate Buy” stanceShares of Dell Technologies (DELL) climbed approximately 7% during the trading session following the release of exceptionally robust quarterly results. The stock peaked at $534.99 before stabilizing near $525.66, accompanied by trading volume that exceeded typical daily levels by roughly 30%.Dell Technologies Inc., DELLThe computing giant reported July-quarter sales totaling $46.97 billion, marking a 57.7% annual expansion that handily surpassed the $44.89 billion consensus projection. Non-GAAP earnings per share of $7.04 demolished expectations by more than $2.00, compared to the anticipated $4.91.Performance proved strong throughout the organization. Traditional Server and Networking revenue skyrocketed 122%, AI-focused servers doubled year-over-year, Storage divisions advanced 26%, and the Client Solutions Group (CSG) representing PCs expanded 20%.Massive AI Pipeline Commands Wall Street AttentionDell’s AI server segment generated $16.4 billion in quarterly revenue. Fresh AI server commitments totaled $61 billion during the period, elevating the company’s comprehensive AI pipeline to approximately $95 billion. While this figure has captured significant investor interest, certain analysts are emphasizing the profitability associated with fulfilling these commitments rather than the raw backlog magnitude.The Infrastructure Solutions Group (ISG) achieved margins of 15%, representing a 630-basis-point improvement from the previous year. Storage business performance contributed meaningfully to this margin enhancement.Evercore ISI withdrew Dell from its Tactical Outperform roster after the substantial price appreciation, though the firm maintained the stock as a Top Pick with an Outperform designation and $575 price objective. Analysts highlighted ongoing supply limitations, which they view as favorable for sustained expansion.Forward Outlook Receives Substantial UpgradeDell increased its fiscal 2027 revenue forecast to approximately $192 billion, suggesting roughly 70% annual growth. The enterprise also boosted its non-GAAP earnings per share projection to around $25.50, a significant jump from the previous $17.90 estimate.For the third quarter of fiscal 2027, management established EPS guidance at $6.50.Multiple Wall Street research teams elevated their valuation benchmarks following the announcement. JPMorgan pushed its price target to $635. Mizuho advanced its objective to $600 while reaffirming an Outperform recommendation. Raymond James established a $617 target. Goldman Sachs similarly increased its forecast, pointing to robust AI server demand and expanding profitability. Morgan Stanley and TD Cowen maintained positive perspectives.Deutsche Bank launched coverage with a Hold recommendation and $480 price target, representing the primary conservative stance among leading financial institutions.Aggregate analyst sentiment across 36 firms registers as “Moderate Buy,” featuring an average price objective of $553.79. The breakdown includes one Strong Buy rating, 26 Buy recommendations, and nine Hold assessments.Regarding insider activity, director-level entities divested shares valued at over $58 million throughout July at approximately $453 per share. Institutional ownership currently represents 76.37% of outstanding shares.The company additionally announced a quarterly cash distribution of $0.63 per share, scheduled for payment on October 30 to shareholders of record as of October 20.The post Dell Technologies (DELL) Stock Soars as AI Revenue and Earnings Crush Forecasts appeared first on Blockonomi.