Dell Technologies (NYSE: DELL) heads into its fiscal second-quarter 2027 earnings report on September 1, with Wall Street maintaining a bullish outlook despite a recent pullback from highs above $500.

Analysts expect earnings per share of $4.88 to $4.95, up roughly 110% to 113% from $2.32 a year ago, while revenue is projected at $44.2 billion to $45.3 billion, representing annual growth of about 50% to 52%. 

The estimates broadly align with management’s prior guidance for revenue of $44 billion to $45 billion and non-GAAP EPS of approximately $4.80.

The optimism follows a strong first quarter, when Dell reported revenue of $43.84 billion, up 88% year over year, and non-GAAP EPS of $4.86. AI server revenue reached $16.1…