Dell climbs after strong rev, profit forecasts amid rising AI server demand

Dell Technologies' DELL.N shares rise 5% to $132.14 premarket

Co forecasts Q4 rev, profit above Wall Street estimates, as increasing investments in data centers to support AI boost demand for its servers

Expects Q4 rev between $31 billion and $32 billion, above expectations of $27.59 billion; sees adj profit of $3.50 per share vs estimates of $3.21

Co also raises annual rev forecast to between $111.2 billion and $112.2 billion from its earlier expectations of $105 billion to $109 billion

Avg rating of 26 analysts is a "buy"; their median PT is $163, as per data compiled by LSEG

Stock had risen 9.2% YTD through Tuesday