New York, Feb 2, 2026, 16:43 EST — After-hours
- Dell shares jumped 4.1% in after-hours trading following a choppy session
- Hardware and chip stocks rose sharply as U.S. equities closed higher
- Attention shifts to Dell’s Feb. 26 earnings for clues on AI server demand and margin trends
Dell Technologies shares climbed 4.1% in after-hours trading Monday, last seen at $119.16 following a day that saw the stock swing between $112.61 and $119.28. After-hours trading refers to the electronic market operating outside the regular 9:30 a.m. to 4 p.m. session.
The rally comes as Dell approaches a crucial earnings report. The company plans to release its fiscal year 2026 fourth-quarter results on Feb. 26, followed by a conference call at 3:30 p.m. CST, according to its investor relations page. (Dell Technologies Investors)
The stock mirrored a wider rally in U.S. markets, driven by firms linked to artificial intelligence investments. The S&P 500 rose 0.54%, while the Nasdaq climbed 0.55%, Reuters noted. U.S. factory output data came in stronger than expected, bolstering investor confidence. “The fundamentals are good and earnings are strong,” said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York. (Reuters)
Peers climbed as well. HP Inc ticked up 1.9%, Hewlett Packard Enterprise gained 2.3%, and server builder Super Micro Computer rose roughly 2%. Chipmakers Advanced Micro Devices and Micron Technology jumped around 4% and 5.5%, respectively.
Dell offers personal computers alongside enterprise products like servers, storage, and networking gear. Investors are focused on its AI server segment, seeing it as a key driver since demand can surge quickly, though the hardware carries high production costs.
In its November quarterly update, Dell raised its fiscal 2026 AI-server revenue projection to $25 billion, also revealing an AI server backlog totaling $18.4 billion, Reuters reported then. (Reuters)
All eyes turn to Feb. 26 for fresh data on orders, backlog, and shipments of AI-optimized servers—and to see if pricing or supply dynamics are shifting. Traders will also watch for any movement in commercial PC demand, which tends to wobble or rebound with corporate refresh cycles.
Margins can shift fast if component prices spike or clients resist higher costs. Last month, Morgan Stanley highlighted that shrinking budgets combined with rising component inflation might lead buyers to scale back on PCs, servers, and storage gear. That scenario raises the odds of earnings estimate downgrades across the hardware sector. (Reuters)
Dell’s stock often tracks the broader “AI hardware” trend, even when the company isn’t making headlines. That pattern can backfire if investors begin to doubt the longevity of the current spending surge.
Tuesday’s session will hinge on whether Monday’s late rally can hold, as chipmakers and other AI-linked stocks once again lead the charge.
Dell’s fiscal fourth-quarter report drops on Feb. 26, with management set to provide guidance and update on how quickly AI server deployments are advancing.
