Dell Technologies Inc (NASDAQ:DELL) shares surged 11% to an all-time high above $562 on Friday after RBC Capital Markets initiated coverage with an Outperform rating and a $640 price target. RBC highlighted robust enterprise demand for AI investments, compute modernization, storage expansion, and PC refresh, expecting these factors to sustain Dell's results above its long-term targets. The company also reported record fiscal second-quarter 2027 revenue of approximately $47 billion, up 58% year-over-year, with adjusted earnings per share of $7.04 that beat estimates. Dell's AI server backlog reached $95 billion, with over $60.9 billion in new AI orders booked during the quarter, providing multi-year revenue visibility into fiscal year 2028.