Dell's Next Earnings Report on September 1 Could Send the Stock Soaring. Here's Why.

DELL reports fiscal 2027 Q2 earnings September 1, with Bank of America analysts expecting the company to raise full-year AI server revenue guidance to $65 billion. The call comes as AI infrastructure demand accelerates across the supply chain.

The bullish setup draws support from two recent catalysts: NVDA issued exceptional forward guidance, and SMCI raised its revenue outlook. Both moves signal sustained enterprise spending on AI-capable hardware, a category where DELL competes directly.

Bank of America's $65 billion AI server revenue expectation would mark a material increase from prior guidance, though the firm did not disclose the magnitude of the anticipated raise. The September 1 report will clarify whether Dell's order book reflects the same demand trajectory seen at its chip and server peers.

The risk case centers on valuation and cyclical exposure. DELL trades at elevated multiples relative to its historical range, leaving the stock vulnerable to any deceleration in AI infrastructure budgets or order push-outs.