Dell Raises Outlook as AI Server Revenue Surges | Closing Bell

Summary

U.S. equities closed lower on the first trading day of September as Middle East conflict drove oil and energy sharply higher and pushed Treasury yields up. Apple outperformed as a defensive anti-AI play while software and AI hardware names mostly fell. After the close, Dell raised guidance on surging AI server revenue, Palo Alto Networks beat and issued above-consensus targets, and MongoDB fell despite a beat-and-raise report.

• U.S. stocks ended the first September session in the red, with the Dow, S&P 500, Nasdaq, and Russell 2000 all lower.
• WTI crude rose above $90 and Brent neared $95 as Middle East tensions lifted energy and pressured risk assets.
• Treasury yields rose across the curve, with the 10-year near 4.8%.
• Apple gained as investors treated it as an anti-AI/defensive tech play.
• CrowdStrike fell as higher yields pressured software sentiment.
• Dell raised full-year guidance and AI optimized server revenue expectations.
• Palo Alto Networks beat quarterly results and guided above consensus, while MongoDB dropped despite a beat and raise.
• Other discussed movers included Atlanta Braves, GoPro, Charter, and Paramount.