# Dell Forecast Fuels Nasdaq Record High, Tech Gains

**Published:** 2026-05-29T17:06:00.000Z  
**Topic:** Nasdaq Tech Stocks  
**Sentiment:** bullish  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/a963ae62-e300-40bf-8b11-6b0471c2d77c

The Nasdaq Composite hit a record high as Dell Technologies surged nearly 33% on strong AI-driven guidance, lifting tech stocks and major indexes.

Major U.S. stock indexes reached record intraday highs, led by a surge in technology stocks after Dell Technologies significantly raised its annual forecasts [1]. The Nasdaq Composite climbed to a fresh peak, while the S&P 500 and Dow Jones Industrial Average also posted gains, capping a strong month for equities [1, 2].

**Key takeaways**
*   The Nasdaq Composite Index hit an intraday record of 27,094.80, while the Dow and S&P 500 also reached new highs [1].
*   Dell Technologies surged nearly 33% after raising its full-year revenue and profit guidance, boosting shares of other enterprise computing companies [1, 2].
*   Federal Reserve Governor Michelle Bowman pushed back on rate hike fears, suggesting temporary energy spikes do not justify aggressive policy action [1].
*   Retail stocks struggled, with Gap dropping more than 17% after lowering its full-year sales outlook, contrasting with the rally in tech [1].

## Dell and AI Infrastructure Drive Tech Rally
Dell Technologies surged nearly 33% after beating earnings expectations and raising its full-year guidance to adjusted earnings per share of $17.90 and revenue between $165 billion and $169 billion [1, 2]. This optimistic outlook, driven by demand for artificial intelligence infrastructure, lifted peers including Hewlett Packard Enterprise, which gained more than 12%, and Super Micro Computer, which climbed nearly 12% [1, 2]. The technology sector rose 1.87%, with Microsoft adding 5.4% and a software services index gaining more than 6%, helping the Nasdaq achieve an 8.36% gain for the month of May [2].

The rally extended beyond hardware, as software names Okta, NetApp, and PagerDuty all climbed 25% or more following positive earnings reports and raised guidance [1]. Wells Fargo Chief Equity Strategist Ohsung Kwon noted that investor enthusiasm remains focused on artificial intelligence and that earnings growth has been the main factor supporting the market rally [2].

## Market Breadth and Economic Signals
While tech advanced, other sectors faced pressure. Retail stocks declined as Gap dropped more than 17% after lowering its sales outlook, and American Eagle Outfitters fell on weaker comparable sales [1]. The space sector also tumbled, with AST SpaceMobile down nearly 17% following a Blue Origin rocket explosion during a ground test [1]. Meanwhile, oil prices fell, with West Texas Intermediate dropping to around $86 a barrel, as a ceasefire framework appeared

## Sources
1. Fxempire — [Nasdaq Index: Tech Stocks Surge as Dell Fuels Record Highs...](https://www.fxempire.com/forecasts/article/nasdaq-index-tech-stocks-surge-as-dell-fuels-record-highs-forecast-1601183)
2. Economictimes — [stock market forecast: What is US stock market prediction for Monday?](https://economictimes.indiatimes.com/news/international/us/what-is-us-stock-market-prediction-for-monday-wall-street-ends-at-record-highs-as-ai-stocks-and-dell-lead-market-rally/articleshow/131407211.cms)

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Cite as: TrendWatcher, "Dell Forecast Fuels Nasdaq Record High, Tech Gains", https://www.trendwatcher.in/article/a963ae62-e300-40bf-8b11-6b0471c2d77c