Stock Market Today, Sept. 2: Dell Surges 16% on Soaring AI Backlog
Dell Technologies (NYSE:DELL), a PCs, servers, storage, and enterprise AI infrastructure provider, closed at $492.00, up 15.76%. The company's stronger-than-expected quarter and raised outlook, backed by record AI server orders, drove the move, and investors are now watching AI s
Dell Technologies' stock surged 16% on September 2, driven by robust AI server demand and a raised outlook. The company's Q2 earnings surpassed expectations, with revenue and adjusted EPS soaring 58% and 203% respectively. This AI-driven success has captivated investors, who are now closely monitoring AI server demand and margin trends.
Trading volume reached a remarkable 35.0 million shares, significantly higher than the three-month average of 7.7 million shares. Dell Technologies, which went public in 2016, has seen its stock climb 3,976% since its initial public offering. In comparison, tech rivals HP and Hewlett Packard Enterprise also experienced gains, with HP closing at $32.00, up 2.16%, and HPE at $51.85, up 1.94%.
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