Today was a special day for chip stock Dell (NYSE:DELL). It’s having the best day it’s seen since 2018, and that was the day it officially relisted on the New York Stock Exchange. Several reasons for these gains exist, though right now, the best reason for its nearly 30% gain in the closing minutes of Friday’s trading stems from its earnings report.
Before this incredible run-up, the best day Dell ever had was September 1, where it landed 21% extra in its share price after, once again, turning in a winning earnings report. But this time, Dell posted wins in revenue and adjusted earnings alike. While revenue was down somewhat—11% against the same quarter in 2022—Dell still managed to bring in impressive gains in net income. That figure was up 89% against the fourth quarter of 2022. A rise in demand for artificial intelligence components helped drive Dell’s results, along with its current chip business.
