Oracle upbeat results, bullish AI brokerage calls power hardware stocks

Dell Technologies

11/09/2026 16:11

** Shares of hardware companies advance, leading Wall Street's rebound from declines earlier this week 
** Dell DELL.N jumps 11.2% to a record high, Hewlett Packard Enterprise HPE.N rises 10.3% at one-month high, HP HPQ.N advances 8.6%, hitting its highest since Dec. 2024
** The three stocks are the top performers on S&P 500 .SPX
** RBC initiates DELL with "outperform," PT $640; cites sustained AI infrastructure demand, $95 billion server backlog, storage-led margin expansion and robust cash returns
** Starts HPQ with "sector perform," PT $33; says solid AI-PC beneficiary, but sees challenges and near-term margin pressure for print business 
** Oracle ORCL.N Q1 beat lifting broader AI-related stocks - analysts
** "Oracle's results were surprisingly good... certainly helping the tech space in general" - Art Hogan, chief market strategist at B Riley Wealth 
** YTD: DELL up 349%, HPE ahead 155%, HPQ up 62% - all outperforming S&P .SPX and Nasdaq .IXIC

 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonretuers.com))