Dell beats estimates, raises outlook after record AI demand

Dell Technologies Inc. (NYSE: DELL ) blowout fiscal second-quarter results drew an emphatic "WOW" from Jim Cramer, while analyst Ben Bajarin said investors who like Nvidia Corp.’s (NASDAQ: NVDA ) growth trajectory will "really" like Dell’s.

Jim Cramer Says ‘WOW’ After Dell Earnings Dell closed at $425, down 6.80%, while its shares jumped 8.01% to $459.03 in after-hours trading, according to Pro.

Cramer took to X after Dell’s earnings report and said, "Dell—on tonight!! WOW." Dell—on tonight!! WOW — Jim Cramer (@jimcramer) September 1, 2026 Bajarin, CEO and principal analyst at Creative Strategies, was even more bullish, drawing a direct comparison with Nvidia’s explosive growth. "$DELL crushed.

If you like NVIDIA’s growth trajectory you are really going to like Dell’s," Bajarin said. $DELL crushed.

If you like NVIDIA's growth trajectory you are really going to like Dell's.

Note coming soon to CS Atlas.

Key Dell takeaways: — Revenue reached $47B, up 58%. — ISG revenue was $31.8B, up 89%. — AI server orders were a record $60.9B in the quarter. — AI server… — Ben Bajarin (@BenBajarin) September 1, 2026 Read Also: Dell Stock Gains as Super Micro, Lenovo Beat Expectations Analysts Cheer Dell’s AI-Fueled Growth Futurum Group CEO Daniel Newman called it a "monster quarter" and said the guidance increase was a powerful demand signal for the AI buildout. $DELL delivers a monster quarter.

Huge guidance raise as well.

Hard to see this and question the AI buildout.

What a great demand signal. 👀🚀 — Daniel Newman (@danielnewmanUV) September 1, 2026 Dell also raised its full-year fiscal 2027 revenue forecast to $192 billion and increased its adjusted EPS outlook to $25.50.

For the third quarter, Dell expects $49 billion in revenue and adjusted EPS of $6.50, both well above Wall Street estimates.

Moor Insights & Strategy CEO Patrick Moorhea d similarly said that Dell "absolutely crushed it," pointing to the company’s supply chain, broad portfolio and execution as key strengths. "Dell doing exactly what it told investors at its capital market day it would do.

What a machine," he wrote on X. $DELL absolutely crushed it this quarter.

Biggest takeaway for me was that all of Dell’s core competencies and strengths showed their face.

The flexibility, the supply chain advantages, the broad portfolio all drove the monster EPS.

Dell doing exactly what it told investors at… — Patrick Moorhead (@PatrickMoorhead) September 1, 2026 Dell AI Server Orders Hit Record $60.9 Billion Dell reported $7.04 in adjusted earnings per share, beating the $4.91 analyst consensus by more than 43%.

Revenue climbed 58% year over year to $46.97 billion, topping estimates of $44.95 billion.

The company’s AI infrastructure business was the standout.

Dell booked a record $60.9 billion in AI server orders during the quarter, generated $16.4 billion in AI server revenue and ended the period with a record $95 billion backlog.

Dell shares have surged 232.55% year-to-date and 764.88% over the past five years.

According to Edge Stock Rankings, Dell ranks in the 99th percentile for Momentum, with its shares showing positive performance across the short, medium and long term.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors.

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