TradingKey – During the Asian trading session on May 28, in U.S. overnight trading, Dell Technologies ( DELL.US) shares rose more than 5% at one point, continuing a strong year-to-date performance that has seen cumulative gains reach 140%. Previous news that Dell secured a $9.7 billion U.S. Pentagon defense contract was the direct catalyst for the stock’s rally.
[Dell’s stock price has risen nearly 140% this year, Source: TradingView]
This rally is primarily driven by three factors: the awarding of the major Department of Defense contract, intensifying AI demand expectations ahead of earnings season, and a series of target price upgrades from institutions.
On May 28, the U.S. Department of Defense announced the award of a five-year defense…
