Dell and HPE Prepare Earnings Reports After AI Rallies

Dell Technologies Inc. and Hewlett Packard Enterprise Co. are preparing to release earnings reports following record-breaking stock rallies fueled by demand for artificial intelligence infrastructure. Dell shares have surged more than 250% in 2026, while Hewlett Packard Enterprise shares have risen approximately 112%.

Wall Street expects significant growth for both companies. Dell's second-quarter net income is projected to jump nearly 150% on revenue growth exceeding 50%. Hewlett Packard Enterprise is expected to see its net income triple on a 30% increase in revenue.

Investors face a higher bar for success following bullish revenue forecasts from Nvidia Corp. and Super Micro Computer Inc. Analysts warn that both companies are trading at significant premiums compared to their 10-year historical valuation averages. Any indication that AI-driven growth is normalizing could trigger stock pullbacks.