Dell Technologies shares fell 3.39% on August 28 despite positive analyst coverage ahead of the company’s September 1 Q2 results. J.P. Morgan analyst Joseph Cardoso reaffirmed a Buy recommendation and set a $565 price objective, saying Dell may raise its Fiscal Year 2027 revenue outlook again from its current projection of 47% growth. The case for stronger guidance is tied to artificial intelligence infrastructure and broader server demand. Research firm 650 Group now expects the AI-server market to grow by more than 80% year over year in 2026, compared with its 64% forecast three months earlier, while total server-market growth is projected to exceed 30%, up from 22%. Analysts expect adjusted earnings of $4.91 per share, GAAP earnings of $4.43 per share and revenue of about $44.5 billion, which would be 51% above the $29.78 billion recorded in the year-ago quarter. Dell has exceeded earnings expectations in five of the past six reporting periods. Its only miss came in the quarter ended April 2025, when earnings were $1.55 per share versus a $1.69 consensus estimate. In the latest quarterly report ending April 2026, Dell posted $4.86 per share against a $2.94 estimate, a 65% positive surprise. Wall Street analysts assign the stock a Moderate Buy rating, based on 12 Buy recommendations, five Holds and no Sells issued during the past three months. The consensus 12-month price target is $519.36, implying about 14% upside, while the median target of $500 indicates roughly 9.6% upside from the latest closing price of $456.24. Dell is scheduled to report results for the fiscal period ended July 31, 2026, on September 1.