Dell Q1 Preview: Stock At All-Time Highs, Will Trump Effect Help Earnings? - Dell Technologies (NYSE:DELL

Dell enters its Q1 cycle with shares near all-time highs as analysts set expectations for robust AI-related demand. The company is forecast to report first-quarter revenue of about $35.71 billion, up from $23.38 billion a year earlier, with expected earnings per share of around $2.93, versus $1.55 in the year-ago quarter. Dell has beaten revenue estimates in seven of the last ten quarters, and earnings per share in nine of the last ten. Analysts project AI-server revenue of roughly $15 billion in Q1, with orders near $20 billion and a backlog anticipated to reach about $49 billion. In recent weeks, BoA's Wamsi Mohan raised the target to $280 and reiterated a Buy rating, citing strong AI opportunities, while other firms offered mixed ratings and targets. Dell also benefited from public praise by President Trump at a White House event, potentially influencing investor sentiment. Dell reported a strong Q4, highlighted by AI-driven orders and a record backlog, underpinning optimism for FY27.