Dell Stock Hits Record High on RBC Outperform Rating

Dell Technologies shares surged to a record high on Friday, September 11, 2026, after RBC Capital Markets initiated coverage with an outperform rating and a $640 price target. The stock climbed more than 10% during the session, reaching an intraday high of approximately $558.56, according to a real-time Nasdaq quote. The rally extended a powerful post-earnings run for the company, which has seen its stock price more than quadruple in 2026. The surge occurred despite recent insider selling by major stakeholder Silver Lake, which sold over $41 million worth of Dell shares on September 8, according to regulatory filings. RBC analyst David Paige issued the initiating note, highlighting Dell's massive $95 billion AI server order backlog and its raised full-year outlook. "With no signs of slowing, we believe DELL continues to be well positioned to benefit from a multiyear AI infrastructure spending cycle," Paige wrote. He also cited Dell's supply chain as a "competitive moat" that differentiates the company during periods of supply disruption. The bullish sentiment stems from Dell's strong fiscal second-quarter results, reported earlier in September.