Dell Technologies Inc. (NYSE: DELL) shares soared more than 20% on February 27, 2026, after the company reported record fourth-quarter and full-year fiscal 2026 results, fueled by explosive demand for AI-optimized servers. The performance capped a transformative year for the technology giant, with executives highlighting surging enterprise and cloud provider orders as evidence of Dell’s leadership in the artificial intelligence infrastructure market.
Illustration shows Dell logo
Dell closed the trading day up approximately 21.9% at around $148, with intraday highs reaching $148.25, marking one of the stock’s strongest single-day gains in recent history. Volume exceeded 18 million shares, more than double the average. The rally followed the February 26 after-hours release of fiscal fourth-quarter results ended January 30, 2026, which significantly exceeded Wall Street expectations.
For the quarter, Dell posted revenue of $33.38 billion, a 39.5% increase from the prior year and well above the consensus estimate of about $31.6 billion to $31.9 billion. Adjusted earnings per share came in at $3.89, topping analyst forecasts of $3.53 and representing a 45% year-over-year jump. Net income rose to $2.25 billion, or $3.37 per share, from $1.53 billion, or $2.15 per share, a year earlier.
The Infrastructure Solutions Group (ISG), which includes servers and storage, led the charge with revenue of $19.6 billion, up 73% year over year. Within that segment, AI-optimized server revenue hit a record $9 billion for the quarter — a staggering 342% increase — while traditional servers and networking grew 27% to $5.9 billion. Executives noted that the company booked $34.1 billion in AI orders during the period and shipped more than $9.5 billion in AI servers, entering fiscal 2027 with a record $43 billion backlog. Full-year fiscal 2026 AI-optimized server revenue reached about $24.7 billion, with cumulative orders surpassing $64 billion.
For the full fiscal year 2026, Dell achieved record revenue of $113.5 billion, up 19% from the previous year, and non-GAAP diluted EPS of $10.30, a 27% increase. The company generated record cash flow from operations, returning $7.5 billion to shareholders through buybacks and dividends, and ended the year with $13.3 billion in cash and investments.
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Looking ahead, Dell provided aggressive guidance that further fueled investor enthusiasm. For fiscal 2027, the company projects revenue between $138 billion and $142 billion — far exceeding analyst expectations around $124.7 billion — and expects AI server revenue to approximately double to $50 billion, representing 103% growth. First-quarter fiscal 2027 revenue is guided to between $34.7 billion and $35.7 billion, with adjusted EPS around $2.90.
CEO Michael Dell and COO Jeff Clarke emphasized the AI opportunity as a defining force. “FY26 was a defining year in our company’s history,” Clarke said in the earnings release. “We delivered record full-year revenue and EPS… The AI opportunity is transforming our company.” Management highlighted differentiated engineering, broad-based demand from enterprises and Tier 2 cloud providers, and disciplined execution amid supply constraints, including a noted memory shortage impacting the industry.
Analysts responded swiftly with upward revisions. Mizuho raised its price target to $180 from $175 with an “outperform” rating, implying significant upside. J.P. Morgan increased its target to $165, forecasting at least 36% potential rally from prior levels, while Barclays lifted to $168 and Piper Sandler adjusted to $167, both maintaining overweight or equivalent ratings. Morgan Stanley, however, hiked its target modestly to $110 while keeping an “underweight” stance, citing valuation concerns despite the strong results.
The surge comes amid broader market dynamics in AI infrastructure. Dell benefits from partnerships with Nvidia and others, positioning it to capture share in data center expansions. Challenges persist, including rising memory costs and supply tightness for high-bandwidth memory (HBM) used in AI systems, but executives expressed confidence in navigating these through strategic sourcing and backlog management.
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Dell also announced shareholder-friendly moves: a 20% dividend increase and an additional $10 billion share repurchase authorization, signaling strong conviction in sustained cash generation and growth.
The stock’s performance reflects a shift from earlier 2025 volatility, when shares traded as low as $66.25, to new momentum driven by AI tailwinds. Year-to-date in calendar 2026, DELL has shown resilience, with the post-earnings pop pushing it toward recent highs around $168.
Investors and analysts will watch upcoming quarters for confirmation that AI server margins remain healthy and shipments track toward the ambitious $50 billion target. Dell’s next earnings are expected in late May or early June for the first quarter of fiscal 2027.
As AI adoption accelerates globally, Dell’s results underscore its pivot from traditional PC and enterprise hardware to a high-growth AI infrastructure player, potentially reshaping its valuation trajectory in the years ahead.
The Corcoran Group agent Julian Johnston exclusively speaks to Fox News Digital about the new wave of California billionaires migrating to South Florida due to a proposed wealth tax.
A new analysis of the 10 most expensive ZIP codes in the U.S. finds that California continues to be home to a significant portion of the nation’s most luxurious properties.
Economists at Realtor.com sought to find the 10 most expensive communities in the U.S. by focusing on areas with at least 30 active listings in January to identify qualified ZIP codes. From there, they ranked markets by median listing price. And, in cases when that was tied in two markets, the median square footage of the listed properties was used as a tiebreaker.
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“The latest data analysis shows that entry into this exclusive top 10 now starts at $5.5 million, placing these communities in a category entirely distinct from even the broader luxury market,” said Realtor.com senior economist Anthony Smith.
That $5.5 million figure is roughly five times the current luxury threshold of $1.2 million, though that entry point to ultra-luxury properties has declined from a peak of $5.9 million in July 2025. Just 12% of listings nationwide are priced above $1 million, but Smith noted that share is nearly 100% within the country’s most expensive ZIP codes.
Newport Beach, California, claimed the top spot on the Realtor.com list of most expensive ZIP codes. (Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images / Getty Images)
California claimed six of the top 10 spots in the Realtor.com analysis despite Malibu slipping out of the rankings into 11th place.
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Smith noted that the 2025 wildfires affected demand for housing in that area, saying the area’s decline “reflects wildfire-driven shifts in inventory, with more listings representing land value or rebuild opportunities rather than turnkey luxury estates.”
Malibu, California, dropped out of the top 10 list due to last year’s wildfires affecting the housing market. (Anne Cusack/Los Angeles Times via Getty Images / Getty Images)
Here’s a look at the 10 ZIP codes with the most expensive real estate based on Realtor.com’s analysis:
Apple has begun late-stage production validation testing for the iPhone 18 Pro and iPhone 18 Pro Max, signaling strong progress toward a September 2026 launch for the company’s premium flagship smartphones. The move comes amid a flurry of leaks and analyst reports detailing significant upgrades in battery life, display design, camera technology and processing power for the anticipated models.
iPhone 18 Pro Max
The iPhone 18 Pro Max, expected to remain Apple’s largest and most capable non-foldable iPhone, is shaping up as a major evolution rather than an incremental refresh. Supply chain sources indicate test production is underway, a standard milestone that typically precedes mass manufacturing by several months. Leakers on platforms like Weibo, including Fixed Focus Digital, have reported the devices are now in “mass production testing,” reinforcing expectations for an on-schedule fall unveiling.
One of the most talked-about improvements centers on battery endurance. Rumors consistently point to the iPhone 18 Pro Max featuring a capacity of 5,100 to 5,200 mAh — potentially the largest ever in an iPhone. This would surpass the iPhone 17 Pro Max’s 5,088 mAh battery, which already delivers up to 39 hours of video playback. To accommodate the larger cell, the device may adopt a slightly thicker chassis, possibly increasing weight to around 243 grams, making it one of Apple’s heaviest models yet.
Efficiency gains are expected to amplify these hardware changes. The iPhone 18 Pro Max is slated to debut Apple’s custom A20 Pro chip, fabricated on a cutting-edge 2-nanometer process from TSMC. This node promises better power efficiency, higher performance and improved thermal management compared to the 3nm chips in current models. Paired with Apple’s second-generation in-house C2 5G modem — an upgrade over the C1 series — the combination could deliver unprecedented battery life, with some speculation reaching beyond 40 hours under mixed use.
Display refinements are also in focus. Bloomberg’s Mark Gurman recently reported that the iPhone 18 Pro and Pro Max will feature a redesigned, smaller Dynamic Island. Introduced with the iPhone 14 Pro in 2022, the pill-shaped cutout houses the front camera and Face ID sensors. To shrink it, Apple is reportedly moving the Face ID dot illuminator under the display while miniaturizing the front-facing camera. This maintains the Dynamic Island functionality without fully eliminating it, addressing mixed earlier rumors about a complete under-display Face ID transition.
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Camera systems remain a highlight for Pro models. Leaks suggest the main 48-megapixel Fusion sensor will incorporate a mechanical variable aperture, allowing users to adjust light intake (potentially from f/1.4 to f/2.0 or similar ranges). This DSLR-like feature would enhance low-light performance, reduce overexposure in bright conditions and provide greater control over depth of field for natural bokeh effects. Some reports indicate a shift to Samsung sensors for this implementation. Additional upgrades may include a wider-aperture telephoto lens and an improved 18-megapixel selfie camera with enhanced Center Stage capabilities.
Color options could introduce fresh appeal. Gurman noted Apple is testing a “deep red” finish as a potential flagship hue for the iPhone 18 Pro series, possibly replacing or complementing existing tones like Cosmic Orange. This bolder palette would leverage the aluminum unibody design adopted in recent Pro models for greater color variety.
The broader iPhone 18 lineup reflects Apple’s evolving strategy. The premium tier — including the iPhone 18 Pro, iPhone 18 Pro Max and the debut iPhone Fold — is expected in September 2026. More affordable variants, such as the base iPhone 18 and iPhone 18e, may shift to spring 2027, creating a staggered release cadence. This approach prioritizes high-end innovation while managing production complexities for new form factors like the foldable.
Pricing rumors suggest Apple aims to hold starting prices steady. Analysts including Ming-Chi Kuo have indicated efforts to avoid increases despite rising component costs, potentially keeping the iPhone 18 Pro Max at or near its predecessor’s $1,199 entry point for the base configuration. Higher-storage options could see modest adjustments.
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Other anticipated features include up to 2TB of storage, faster 40W wired charging, LTPO+ display technology for smoother refresh rates with better efficiency, and deeper integration of Apple Intelligence via iOS 20 (or iOS 27, depending on naming). The A20 Pro’s capabilities are expected to supercharge on-device AI processing for tasks like advanced photo editing and Siri enhancements.
As testing advances, attention turns to how these upgrades position the iPhone 18 Pro Max against competitors amid lengthening smartphone replacement cycles and fluctuating global demand. Apple’s focus on meaningful hardware leaps — particularly in battery, camera versatility and display cleanliness — could drive strong upgrade interest among Pro users.
The company has not commented on the rumors, and final specifications remain subject to change. Apple typically unveils new iPhones in early September, with pre-orders following shortly after and retail availability within weeks.
A major high-tax blue state has seen a significant population loss due to domestic out-migration over the last five years, new research found.
Massachusetts recorded a net loss of about 182,000 residents to domestic out-migration from April 2020 to July 2025, according to an analysis of the state’s workforce by the Pioneer Institute. The free market think tank noted the population decline is equivalent to losing roughly one and half Cambridges in that period.
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“With domestic out-migration levels growing prior to the pandemic and remaining significantly elevated beyond it, it is clear out-migration is a structural phenomenon that is here to stay and not just a byproduct of remote work and the pandemic,” the report explained.
“Those leaving tend to be younger, between the ages of 26 and 34, and the loss of their economic activity will affect the state for decades to come,” it continued. “Out-migration could lead to population loss and a reduction in the labor force in 2026 as immigration is expected to drop sharply.”
Massachusetts has seen significant out-migration in recent years, the Pioneer Institute found. (Ron Dahlquist/Design Pics Editorial/Universal Images Group via Getty Images)
The Pioneer Institute noted that the state’s labor force reached 3.9 million in 2024, which marked the largest year-over-year increase since 2018. The growth was mainly fueled by record international migration, which added 230,000 new residents from 2022 to 2024.
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Private sector employment in Massachusetts remains below its 2019 levels, and private sector employment has declined by 18,000 jobs (or -0.55%) since January 2020.
Over that same period, U.S. private sector job growth topped 5% while fast-growing states like Florida, North Carolina and Texas all exceeded 10%, per the institute’s analysis.
Massachusetts’ unemployment rate tops those of neighboring states. (Billie Weiss/Boston Red Sox/Getty Images)
The statewide unemployment rate in Massachusetts has risen to 4.8% as of December, continuing a steady climb from a post-pandemic low of 3.2% in April 2023, the institute found.
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Massachusetts’ unemployment rate remains above neighboring states like Connecticut (4.2%), Rhode Island (4.3%), Maine (3.2%), New Hampshire (3.1%) and Vermont (2.6%).
The Pioneer Institute noted the number of job openings in the state has also declined to 145,000 in November 2025, a decrease of 50% from the pandemic era peak of 338,000 in May 2022. Additionally, the unemployed-to-jobs ratio topped 1 for the first time since the pandemic in October 2024.
The state of Massachusetts saw notable growth in employment in life sciences roles. (Joseph Prezioso/AFP via Getty Images)
Massachusetts retained its status as the most educated state in the U.S. as of 2024, with 53.4% of its population 25 and older holding a bachelor’s degree or higher, according to the report. The next most educated states identified in the report were Vermont (50.9%), New Jersey (47.8%) and New Hampshire (47%).
“The states in the bottom 10 tend to have a number of issues in common: complex, nonneutral taxes with comparatively high rates,” the report said.
Job categories that saw the most growth from 2019 to 2024 in Massachusetts were heavily focused on life sciences, including biochemists (+218%), bioengineers (+182%) and biological technicians (+37%). Chemical equipment operators and tenders (+504%) and logisticians (+88%) also saw notable increases, as did family medicine physicians (+61%).
Among the occupations that saw the steepest declines were among those that could be subject to automation and artificial intelligence, including clerks (-30%), secretaries (-29%), cashiers (-20%) and customer service representatives (-17%).
Truworths International Limited (TRWKF) Q2 2026 Earnings Call February 27, 2026 6:00 AM EST
Company Participants
Michael Mark – CEO & Executive Director Sarah Proudfoot – Joint Deputy CEO & Executive Director Reon Smit Emanuel Cristaudo – Joint Deputy CEO, CFO & Executive Director
Presentation
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Michael Mark CEO & Executive Director
Good afternoon, everybody. Welcome to the 2026 February Half Year Results Presentation of Truworths. In the room with me on virtual is Manny Cristaudo and Sarah Proudfoot, who are our joint Deputy CEOs. You all know them pretty well. And then there’s Reon Smit, who’s our Financial Director. I’m going to go through the presentation as speedy as I can because it will be published on the Internet in the next hour or 2 afterwards anyway, so that I can try and get to the questions-and-answer stage within 35 minutes or so. And then we’ve got at least 20, 25 minutes until 2:00 to answer questions. We have obviously read some of the initial analyst reports that came out this morning and yesterday. So we’ve tried to even include those responses in those — in our presentation. So it follows our normal agenda. First and foremost, I’m going to talk once again about our business philosophy. This is not to annoy you or bore you.
It’s because I’m trying to give you a filter of how we think. And this filter affects our interactions with shareholders as well because — when you give us input, whether it’s positive input or critical input, we don’t ignore it. We don’t just blindly follow it. We filter it through our philosophy every single time because that’s how we think. I’m trying to explain to you how we think. And essentially, it’s a simple thing, especially for the new shareholders. I’ve said many times before, we publish it.
Fred Piard, PhD. is a quantitative analyst and IT professional with over 30 years of experience working in technology. He is the author of three books and has been investing in data-driven systematic strategies since 2010. Fred runs the investing group Quantitative Risk & Value where he shares a portfolio invested in quality dividend stocks, and companies at the forefront of tech innovation. Fred also supplies market risk indicators, a real estate strategy, a bond strategy, and an income strategy in closed-end funds. Learn more.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of AMZN, GOOGL, META either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
| Revenue of $373.55M (-2.82% Y/Y) misses by $1.44M
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