Dell Technologies Inc. (NYSE:DELL) is one of the 10 Stocks With Explosive Returns.
Dell Technologies extended its winning streak to a 7th straight session on Friday to climb to a new all-time high, as investors gobbled up shares after the company clinched a new $10-billion contract with the US government and posted a strong earnings performance in the first quarter of fiscal year 2027.
In intra-day trading, the stock climbed to its highest price of $429.15 before paring gains to finish the session just up by 32.76 percent at $420.91 apiece.
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The Department of Defense announced on Wednesday that it awarded Dell Technologies Inc. (NYSE:DELL) a five-year contract to deliver a suite of software to the US military, including Microsoft 365, advanced cloud subscriptions, and on-premises licensing capabilities.
The company bested other competitors under a competitive selection process.
Dell Technologies Inc. (NYSE:DELL) is a major buyer of Windows PC licenses and maintains a long-term partnership with Microsoft.
The Pentagon said that the agreement is expected to save the agency $422 million annually by consolidating existing IT budgets into a single, efficient vehicle.
In other news, Dell Technologies Inc. (NYSE:DELL) posted a strong earnings performance in the first quarter of the year, with net income soaring by 256 percent to $3.4 billion from only $965 million in the same period last year. Net revenues increased by 88 percent to $43.8 billion from $23.4 billion year-on-year.
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