{
  "id": 5992477,
  "title": "Dell’s Monster Quarter Just Confirmed Micron’s Biggest Opportunity Is Not Just HBM",
  "url": "https://urgent.news/2026/09/05/dells-monster-quarter-just-confirmed-microns-biggest-opportunity-is",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-05T14:00:02.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/stocks/articles/dell-monster-quarter-just-confirmed-140002996.html"
  },
  "original_language": "en",
  "account": "Dell Technologies reported record fiscal second-quarter revenue of $47 billion, marking a 58% increase from the previous year. Non-GAAP earnings per share reached $7.04, significantly surpassing Wall Street's estimate of $4.72 per share. The company raised its fiscal 2027 revenue forecast by $25 billion to $192 billion and increased its non-GAAP EPS outlook for the same period to $25.50. Dell delivered $60.9 billion of AI-server orders, generated $16.4 billion of AI-server revenue, and accumulated a $95 billion backlog, up from $51.3 billion three months earlier. The Q2 results, including a 122% year-over-year increase in traditional server and networking revenue and a 26% year-over-year increase in storage revenue, underscore the strong demand for AI spending. Dell's PowerEdge servers, along with AI-server backlog, indicate a robust demand for memory and storage components. Micron Technology, which supplies DDR5 server memory and data-center SSDs used by Dell's infrastructure, benefits from this trend. In its fiscal Q3, Micron generated $41.5 billion of revenue, with DRAM accounting for 76% and NAND contributing 24%. The pricing for DRAM and NAND has surged, indicating a supply-constrained market, which benefits Micron. However, memory remains a cyclical industry, influenced by demand fluctuations. Dell's $95 billion backend backlog, though not equivalent to recognized revenue, reinforces the demand signal. Overall, Dell's Q2 results provide a compelling case for Micron investors, as the overall memory cycle gains strength, driven by broader server and storage demands.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}