Dell shares rise after RBC starts coverage with outperform rating

Dell Technologies shares climbed after RBC Capital Markets began coverage of the computer maker with an outperform rating and a $640 price target. The stock rose as investors responded to the bank’s view that Dell is well positioned to benefit from ongoing demand for AI infrastructure. The move adds to a strong year for Dell, with shares up more than fourfold in 2026. The company has become a major supplier of Nvidiabased servers and related equipment used by cloud providers and businesses building out artificial intelligence systems. RBC said Dell has a large server order backlog and continues to see demand for AI servers and storage products. Dell also recently lifted its fullyear sales outlook after reporting quarterly results that beat estimates, while executives said higher component costs are also affecting pricing.