{"id":41080,"date":"2023-09-05T08:20:16","date_gmt":"2023-09-05T12:20:16","guid":{"rendered":"https:\/\/www.technewsday.com\/?p=41080"},"modified":"2023-09-07T11:00:58","modified_gmt":"2023-09-07T15:00:58","slug":"dell-shares-soar-on-ai-boost","status":"publish","type":"post","link":"https:\/\/technewsday.com\/staging\/dell-shares-soar-on-ai-boost\/","title":{"rendered":"Dell shares soar on AI boost"},"content":{"rendered":"<p data-ar-index=\"1\">Shares of Dell Technologies soared 22.2%, hitting a record high, after the company raised its full-year financial forecasts on the back of strong demand for artificial intelligence (AI)-powered servers.<\/p>\n<p data-ar-index=\"2\">Dell&#8217;s second-quarter revenue and earnings per share beat analyst estimates, with servers and networking revenue rising 11% from the first quarter to $4.27 billion. Dell said the growth was driven by higher demand for AI-optimized servers, which accounted for 20% of AI orders in the quarter.<\/p>\n<p data-ar-index=\"3\">Analysts at JPMorgan Chase, Credit Suisse, and Evercore ISI all raised their price targets for Dell&#8217;s shares following the report, citing the company&#8217;s position to benefit from the growing demand for AI.<\/p>\n<p data-ar-index=\"4\">The median price target for Dell&#8217;s shares rose to $68 on Friday from $56 on Aug. 1, according to Refinitiv data.<\/p>\n<p data-ar-index=\"5\">The strong earnings report and positive analyst reaction sent Dell&#8217;s shares to their highest level ever. The stock closed at $68.75, up more than 70% for the year-to-date.<\/p>\n<p data-ar-index=\"6\">The sources for this piece include an article in <a href=\"https:\/\/www.reuters.com\/technology\/dell-shares-hit-record-high-after-report-forecasts-impress-with-ai-mix-2023-09-01\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Dell Technologies soared 22.2%, hitting a record high, after the company raised its full-year financial forecasts on the back of strong demand for artificial intelligence (AI)-powered servers. Dell&#8217;s second-quarter revenue and earnings per share beat analyst estimates, with servers and networking revenue rising 11% from the first quarter to $4.27 billion. Dell said [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[57],"tags":[574],"class_list":["post-41080","post","type-post","status-publish","format-standard","hentry","category-companies","tag-companies"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/41080","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=41080"}],"version-history":[{"count":2,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/41080\/revisions"}],"predecessor-version":[{"id":41082,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/41080\/revisions\/41082"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=41080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=41080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=41080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}