Dell Stock Surges as AI Backlog Hits $95 Billion and Director Sells $930K in Shares

Dell Technologies shares rose sharply on Tuesday, outperforming the broader market, with the stock up approximately 93% since President Trump publicly endorsed the company by urging investors to buy Dell. The rally comes as the company has built a $95 billion AI server backlog and issued guidance pointing to fiscal year 2027 revenue growth of roughly 70% year over year, driven by strong performance across its Infrastructure Solutions Group and Client Solutions Group.

Dell also expanded its cybersecurity and resilience portfolio on Tuesday, unveiling new capabilities designed to protect AI environments, a move that added to positive sentiment around the stock. Analysts note that operating leverage, an improved storage product mix, and ongoing share buybacks are expected to drive outsized earnings-per-share growth, though at least one analyst initiated coverage at Hold, arguing shares are fully valued relative to peers and historical multiples and recommending waiting for a pullback.

On the manufacturing front, sources cited by Nikkei reported that Dell is evaluating shifting some PC production back to China, joining HP and Asus in reassessing supply chains as AI-driven component cost increases push up bills of materials. The move would be a reversal of earlier diversification efforts and is still under evaluation rather than finalized.

Separately, director Lynn Vojvodich Radakovich sold 2,022 shares on October 22 at an average price of $460.00, generating proceeds of $930,120. Following the transaction, she retained a direct holding of 25,686 shares in the company.