š Dell just posted the best quarter in its history. Q4 fiscal 2026 revenue came in at $33.4 billion, up 39% year-over-year, beating consensus of $31.7 billion by more than 5%. Non-GAAP EPS hit $3.89 against estimates of $3.51.
Full year fiscal 2026 revenue reached a record $113.5 billion, up 19% year-over-year. AI-optimized server revenue in Q4 alone was $9.0 billion, up 342% year-over-year.
The company shipped over $25 billion in AI infrastructure across the full year. Dell enters fiscal 2027 with a $43 billion AI server backlog. FY2027 revenue guidance is $138 to $142 billion with AI server revenue targeted at $50 billion, representing a 100% year-over-year increase.
The quarterly dividend was raised 20% to $0.63 per share. Share repurchase authorization expanded by $10 billion.
The stock hit an all-time high of $178.31 on March 25, 2026, up 30% from pre-earnings levels. It has since pulled back to the $133 area as broader tech selling from the Iran war weighs on the sector.
That pullback has created two clean weekly demand zones with defined entries and stops.
Goldman Sachs Buy $195. Bank of America raised to $172.
Approximately 93% of analysts covering the stock hold Buy or Strong Buy ratings. Institutional ownership stands at 81% with Vanguard and BlackRock among the largest holders.
FY2027 Q1 guidance calls for revenue of $34.7 to $35.7 billion with non-GAAP EPS of approximately $2.90.
The Iran war context is directly relevant. Every AI data centre being built by defence contractors, intelligence agencies, and military infrastructure programmes runs on Dell servers.
Dell’s sovereign AI business spans governments across North America, Europe, and Asia Pacific. When the conflict accelerates government AI spending, Dell is one of the primary beneficiaries of that capital deployment.
The weekly chart shows a controlled pullback from the all-time high into two Fibonacci demand zones. The blue SMA 20 is pulling back toward the red SMA 200 which is curling upward as long-term structural support.
š¢ Buy Zone 1 ($155.99 area)
0.382 Fibonacci retracement of the 2025 to 2026 bull run and prior resistance turned support.
Stop: $150.17 (3.731% below entry) / $980 position
Qty: 3
Risk/Reward Ratio: 7
Target: +26.130% ($196.75 area / $1,140.07)
š¢ Buy Zone 2 ($140.19 area)
0.5 Fibonacci retracement and the weekly demand shelf from late 2025.
Stop: $134.37 (4.152% below entry) / $980 position
Qty: 3
Risk/Reward Ratio: 12.22
Target: +50.724% ($211.30 area / $1,244.36)
Key Levels:
š Current Price: $133.35
š Buy Zone 1: $155.99 | Stop: $150.17
š Buy Zone 2: $140.19 | Stop: $134.37
š All-Time High: $178.31
š FY2026 Revenue: $113.5B (+19% YoY)
š Q4 AI Server Revenue: $9.0B (+342% YoY)
š AI Server Backlog: $43B
š FY2027 Revenue Guidance: $138 to $142B
š FY2027 AI Server Target: $50B
š Goldman Sachs Target: $195
š Analyst Buy Rating: ~93%
šÆ Target 1: $196.75 (+26% from Zone 1 / $1,140.07)
šÆ Target 2: $211.30 (+50% from Zone 2 / $1,244.36)
ā ļø Hard Stop Zone 1: $150.17
ā ļø Hard Stop Zone 2: $134.37
Record revenue. Record backlog. Record AI server shipments. The pullback is the Iran war selling tech indiscriminately. The business case has not changed. Two weekly buy zones are mapped.