Dell Technologies stock falls 1.34 percent as AI orders surge

Published on 09/24/2026 at 15:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Dell Technologies stock traded at USD 542.45 at 9:47 a.m. ET on September 24, 2026. Fiscal Q2 revenue reached USD 46.971 billion, up 58 percent year over year.

Dell Technologies Inc., US24703L2025, Illustration mit AI erstellt.

Dell Technologies stock (ISIN US24703L2025) was trading at USD 542.45 on the NYSE at 9:47 a.m. ET on September 24, 2026, down 1.34 percent from the USD 549.83 prior close. The move contrasts with a fiscal second quarter that delivered record revenue and an expanded artificial intelligence order book.

AI orders exceed quarterly revenue

According to Dell Technologies in its September 1, 2026 release, fiscal Q2 2027 net revenue reached USD 46.971 billion for the quarter ended July 31, 2026, up 58 percent year over year. GAAP diluted EPS rose 273 percent to USD 6.34, while adjusted diluted EPS increased 203 percent to USD 7.04.

The most striking comparison is in AI infrastructure. Dell reported USD 60.9 billion of AI server orders against total quarterly revenue of USD 46.971 billion, while AI-optimized server revenue reached USD 16.401 billion, up 100 percent year over year.

Guidance rises by USD 25 billion

Dell also lifted its fiscal 2027 revenue guidance from USD 167 billion to USD 192 billion, a USD 25 billion increase. The updated outlook implies 69 percent year-over-year growth, and adjusted full-year EPS guidance rose to USD 25.50 from USD 17.90.

The backlog adds another dimension to the figures. Dell ended the quarter with USD 95 billion of AI-optimized server backlog, according to the company release, giving the order figure a forward-looking counterpart rather than making it a one-quarter statistic.

Stock sits below its yearly high

Dell Technologies stock had a market capitalization of USD 360,322,924,030 on September 24, 2026. Its 52-week range was USD 110.22 to USD 595.51, placing the intraday price USD 53.06 below the upper end of that range.

For investors, the tension is clear in the numbers: AI demand and guidance accelerated sharply, while the stock traded lower during the September 24 session. The next market test is whether the USD 95 billion backlog can convert into revenue without weakening the profitability gains shown in fiscal Q2.