Deil Gains 10% Following RBC's Upgrade
The stock of Dell Technologies rose by 10% following a recommendation from RBC Capital Markets to achieve market outperformance. The target price was set at $640, backed by accumulated demand for servers worth $95 billion and an increase in revenues in the artificial intelligence sector. The company is experiencing rapid growth, with second-quarter results surpassing expectations and raising its revenue forecast to $192 billion for the fiscal year, an increase of nearly 70% compared to the previous year, amid rising demand for its AI solutions and infrastructure products.
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