Key Takeaways
- Dell’s Q1 FY27 results arrive Thursday, May 28, after the closing bell
- The options market is anticipating a potential move of approximately 11.75% following the report
- Analysts forecast revenue climbing roughly 50% year-over-year to the $35–$36 billion range
- Shares have skyrocketed about 136% in 2025, reaching record territory near $298
- Wall Street price targets span a massive range — from Morgan Stanley’s $170 Sell rating to multiple Buy ratings above $270
Dell Technologies prepares to unveil its Q1 fiscal 2027 financial results Thursday evening, May 28, as the stock trades near unprecedented levels following a remarkable year-to-date climb of approximately 136% to around $295.
The stock experienced a dramatic 17% single-session surge on May 22, propelled by a cascade of optimistic analyst upgrades and elevated price targets. The massive intraday rally captured widespread market attention.
The options market signals expectations for considerable volatility, with implied movement ranging from 10% to 11.75% in either direction post-announcement. This projected swing significantly exceeds DELL’s typical post-earnings volatility of 4.61% measured across the previous four quarters.
Based on Friday’s record closing price, a 10% swing could propel shares toward $326 on the upside — or drag them below $265 if results disappoint.
Street forecasts point to impressive growth metrics. Analysts anticipate Q1 revenue landing between $35 billion and $36 billion, representing year-over-year expansion exceeding 50%. Adjusted earnings per share are projected around $2.91–$2.97, nearly doubling the $1.55 figure from the comparable period last year.
The company’s artificial intelligence server division remains the central narrative. Dell began this fiscal year with a disclosed $43 billion AI server order backlog, and market watchers are eager to assess whether that trajectory has sustained itself.
The Optimistic Perspective
Evercore’s Amit Daryanani maintained his Buy recommendation with a $270 price objective while elevating DELL to the firm’s Tactical Outperform roster. He anticipates Dell surpassing both revenue and earnings projections, powered by robust hardware appetite spanning AI servers, networking infrastructure, and storage solutions.
Daryanani highlighted the possibility of Dell exceeding its full-year AI server revenue goal of $50 billion. He cited CoreWeave‘s increased capital expenditure plans and nScale’s emergence as a new Dell client as catalysts supporting elevated demand.
Wells Fargo lifted its price objective to $270 from $180. JPMorgan elevated its target to $280 from $205. Bank of America similarly suggested Dell could surpass Q1 projections and boost its annual sales forecast, pointing to “substantial” appetite for both personal computers and AI server infrastructure.
Evercore perceives genuine potential for Dell to raise its FY27 guidance calling for $140 billion in revenue and $12.90 earnings per share. Short-term PC demand also appears healthy, bolstered by enterprise advance purchasing and elevated average transaction values.
The Skeptical Viewpoint
Not all analysts share the enthusiasm. Morgan Stanley’s Erik Woodring increased his price target to $170 from $110 — while maintaining his Sell recommendation.
Woodring anticipates a beat-and-raise quarter fueled by enterprise forward-buying activity and AI server strength. His primary concern centers on valuation. DELL currently commands an all-time premium relative to comparable companies in the AI infrastructure sector, and visibility into the second half remains clouded.
At $295 per share, the stock sits 181% above its 52-week low of $105. Immediate resistance appears at the $298 all-time peak. Support exists around $227 — approximately 23% beneath current trading levels.
The consensus Wall Street rating stands at Moderate Buy, comprising 12 Buy ratings, 4 Hold ratings, and 1 Sell rating. The mean price target of $228.87 now trails considerably behind the stock’s actual trading price.
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