On September 16, Dell Technologies Inc. rose 3.6% in regular trading, trading at 568.31 USD/share, with turnover of $626 million, extending the prior session's 4%-plus rally.

On the news front, CEO Michael Dell stated at the Goldman Sachs Technology Conference that the structural semiconductor shortage is unlikely to ease in the near term, with supply-demand imbalances potentially intensifying next year, leading to sustained price increases for computing equipment and PCs. The company intends to pass higher costs through to pricing. Simultaneously, RBC Capital Markets initiated coverage with an Outperform rating and a $640 price target, citing Dell's AI infrastructure supply chain moat and a $95 billion server order backlog yet to begin delivery. Evercore ISI also raised its target price to $650, maintaining an Outperform rating. The bullish momentum follows last week's nearly 12% single-day surge after Oracle named Dell a core supplier for its AI capital expenditure program, while Q2 AI server revenue reached approximately $16.4 billion and enterprise AI customers grew over 60% in the past six months to more than 6,500.

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