TLDR
- Dell stock has surged 98% over eight straight winning sessions as of Tuesday, its longest streak since March 2018.
- Strong Q1 earnings and a new laptop competing with Apple hardware kicked off the rally.
- HPE’s fiscal Q2 beat — $7.71B in cloud & AI revenue vs. $6.93B expected — added fresh fuel on Tuesday.
- Super Micro Computer also rose 5.1% Tuesday, up 26% over five sessions, riding the same AI server wave.
- Jim Cramer publicly said he’s “furious” he missed Dell, praising the company’s conference call and CEO Michael Dell’s buyback strategy.
Dell Technologies (DELL) stock climbed another 1.6% Tuesday morning to $473.22, extending one of the more eye-catching runs the market has seen in recent memory.
Eight sessions in a row of gains. Up 98% in that stretch. If it closes green Tuesday, it’ll be Dell’s longest daily winning streak since March 2018, per Dow Jones Market Data.
The rally started with Dell’s first-quarter earnings, which came in well above expectations. A new laptop designed to take on Apple’s latest hardware also got investors’ attention.
Then came Tuesday’s added boost. Hewlett Packard Enterprise reported fiscal second-quarter results that beat on cloud and AI revenue — $7.71 billion versus the $6.93 billion Wall Street had penciled in. HPE raised its full-year guidance too.
HPE stock jumped 24% in premarket trading on that news. The results reinforced the narrative that demand for AI infrastructure hardware remains strong.
AI Server Demand Lifts the Sector
Dell isn’t alone in catching the wave. Super Micro Computer rose 5.1% Tuesday, adding to a 26% gain already logged over the prior five sessions.
The broader AI server trade is clearly in motion. HPE’s beat acted as a sector-wide signal that spending on the hardware behind AI isn’t slowing down.
Ahead of Dell’s own earnings, analysts had already been turning more bullish. Bank of America raised its price target to $246 from $205 and kept a Buy rating, citing growth in agentic AI and its effect on server demand.
Evercore ISI also bumped its target to $240 from $205, pointing to long-term enterprise AI commitment as a tailwind for Dell.
Cramer Regrets Missing It
CNBC’s Jim Cramer didn’t hold back after the earnings drop. He praised Dell’s conference call, specifically calling out CFO Jeff Clarke for presenting numbers plainly without overselling the quarter.
“If you want to read a conference call that explains how you should talk about business, then you should be on Dell,” Cramer said.
He also highlighted CEO Michael Dell’s buyback activity. Cramer recalled a conversation at NVIDIA’s GTC two years ago where Michael Dell told him he’d buy back stock aggressively if the price stayed flat — and followed through.
On social media, Cramer was blunt: “Furious that I missed Dell.”
The stock closed 32% higher on the day of earnings. Over the past month, it’s up roughly 101%.
As of Tuesday morning, DELL was trading at $473.22, with S&P 500 futures pointing slightly lower.
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