Dell Technologies (NYSE: DELL) is a global technology company that develops, sells, and supports computers and related products and services. It operates in a competitive market, facing rivals in personal computing and the rapidly growing field of artificial intelligence (AI) infrastructure. The company is structured into two main divisions: the Infrastructure Solutions Group (ISG) and the Client Solutions Group (CSG).
On September 2, 2026, analyst firm Barclays reiterated its "Overweight" rating for Dell Technologies. An "Overweight" rating suggests that an analyst believes the company's stock should perform better than the average return of stocks in its sector. This positive outlook is shared by other firms like Morgan Stanley and Goldman Sachs, as highlighted by Market Watch.
This confidence is supported by Dell Technologies' exceptional second-quarter 2026 results. The company reported record revenue of $47 billion, a 58% increase from the previous year. This led to a record diluted non-GAAP earnings per share (EPS) of $7.04, which is a key measure of profitability per share, marking a 203% surge.
Barclays also raised its price target on Dell Technologies to $603 from $550. This increase reflects strong future expectations, which align with Dell Technologies' own guidance. The company raised its fiscal 2027 revenue outlook to $192 billion and its adjusted EPS forecast to $25.50, surprising analysts with the scale of the upgrade.
A primary driver for this performance is the high demand for AI servers. The company's ISG division saw revenue climb 89% to a record $31.80 billion. Within this, AI servers generated $16.40 billion in revenue, and the company ended the quarter with an impressive AI backlog of $95 billion, as detailed in its Q2 2026 earnings call highlights.
