--- title: "U.S. stock market midday update: Dell Tech surges 11.23%, hitting a record high: AI server orders are booming along with the benefits of \"going public,\" major banks raise their target to $650" type: "News" locale: "en" url: "https://longbridge.com/en/news/298751943.md" description: "Dell Tech-C rose 11.23%; SanDisk fell 2.74%, with a transaction volume of USD 10.1 billion; Apple rose 2.46%, with a transaction volume of USD 8.416 billion; Seagate Technology fell 3.63%, with a transaction volume of USD 1.242 billion; Western Digital fell 1.89%, with a market value of USD 163.1 billion" datetime: "2026-09-11T15:54:52.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/298751943.md) - [en](https://longbridge.com/en/news/298751943.md) - [zh-HK](https://longbridge.com/zh-HK/news/298751943.md) generator: "portal-rs" --- # U.S. stock market midday update: Dell Tech surges 11.23%, hitting a record high: AI server orders are booming along with the benefits of "going public," major banks raise their target to $650 **U.S. Stock Market Midday Update** Dell Technologies-C rose 11.23%, reaching a new 60-day high. Based on recent key news: 1. On September 11, Dell Technologies' stock price hit an all-time high as hardware company stocks surged, driving a rebound on Wall Street. RBC rated Dell as "Outperform" with a target price of $640, citing sustained demand for AI infrastructure, a backlog of server orders amounting to $95 billion, profit expansion driven by storage, and strong cash returns. Source: Reuters 2. On September 9, Dell Technologies announced it would join the S&P 100 Index, boosting its stock price. Strong demand for AI infrastructure and the news of its upcoming inclusion in the S&P 100 Index propelled the stock to a historic high of $538.47. Source: Reuters 3. On September 10, Evercore raised Dell Technologies' target price from $575 to $650 and maintained it as a top pick, believing there is still room for further price increases despite the recent stock price rise. Source: Reuters AI demand remains strong, and changes in the S&P 100 Index have significant impacts. **Stocks with High Trading Volume in the Industry** SanDisk fell 2.74%, with increased trading volume. Based on recent key news: 1. On September 10, Goldman Sachs reported that the worst phase for the storage chip industry may be over, leading to a 1.51% increase in SanDisk's stock price. Goldman Sachs believes investors may be repositioning in the storage sector, with clear signs of capital inflow. Source: CaiLianShe 2. On September 11, the AI hedge fund Situational Awareness re-purchased SanDisk options, including storage-themed ETFs, indicating increased market confidence in the storage sector. Source: BlockBeats 3. On September 10, SanDisk stated at the Goldman Sachs conference that NAND supply growth is constrained, and demand expansion supports prices. Long-term agreements cover future sales, and the supply-demand tension continues. Source: Viewpoint Network The cyclical risks in the storage industry still need attention. Apple rose 2.46%. Based on recent news: 1. On September 11, Apple held a launch event introducing the new foldable smartphone iPhone Duo and other new products, receiving a positive market response. The launch of new products boosted investor confidence, driving the stock price up. Both Morgan Stanley and Goldman Sachs maintained a "Buy" rating on Apple, with a target price of $360. 2. On September 10, Goldman Sachs pointed out that carrier promotions allow users to obtain the iPhone 18 Pro almost for free, cushioning the demand shock from the official price increase. JPMorgan believes that Apple's vertical integration and component redesign help reduce material costs, supporting its pricing strategy. 3. On September 9, Apple's market value surged by $570 billion, with new CEO John Ternus facing high market expectations. The stock price rose 15% cumulatively before the launch event, as investors were particularly excited about the new generation of devices, especially the foldable smartphone. The market reacted positively to Apple's new product launch, driving the stock price up Seagate Technology fell 3.63%. Based on recent key news: 4. On September 10, the price of hard disk drives continued to rise, benefiting Seagate Technology from the crowding-out effect of AI demand, leading to an increase in hard disk prices. Seagate has discontinued some low-capacity products, and market demand has driven up stock prices. 5. On September 9, Seagate Technology completed the redemption and exchange of 3.50% exchangeable senior notes, totaling approximately $150.7 million. This transaction marks the end of all related actions and has affected the market's perception of its financial stability. 6. On September 11, Seagate Technology's Chief Financial Officer stated that 80% to 90% of shipments in the data center sector will be sold through its heat-assisted magnetic recording technology, demonstrating the company's advantages in technological transformation. The storage industry is experiencing strong demand, with rising prices. **Stocks ranked at the top of the industry by market capitalization** Western Digital fell 1.89%. Based on recent news, 1. On September 10, the price of hard disk drives continued to rise, primarily due to AI demand leading to a reduction in solid-state drive supply and an increase in hard disk demand. The price of 3.5-inch hard drives used in desktop computers and surveillance cameras rose by 15% month-on-month, while the price of 2.5-inch hard drives used in laptops rose by 10% month-on-month. This news had a negative impact on Western Digital's stock price. 2. On September 9, Western Digital's Global Operations Chief Vidyadhara K Gubbi sold a portion of his shares, totaling 3,559 shares, between September 3 and 4, raising doubts about internal confidence in the company and causing the stock price to decline. 3. On September 11, UBS lowered Western Digital's target price to $525 and gave it a neutral rating, emphasizing the slowdown in growth of enterprise and brand shipments and expressing concerns that the recently record-high gross margins may face compression risks after a cyclical peak. This news further exacerbated the decline in stock prices. The demand for hard disk drives is growing, with significant impacts from AI demand ### Related Stocks - [DELL.US](https://longbridge.com/en/quote/DELL.US.md) - [SNDK.US](https://longbridge.com/en/quote/SNDK.US.md) - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [STX.US](https://longbridge.com/en/quote/STX.US.md) - [WDC.US](https://longbridge.com/en/quote/WDC.US.md) ## Related News & Research - [Dell Technologies Sees AI Boom Building as $95B Server Backlog Signals Demand](https://longbridge.com/en/news/298812743.md) - [Why Is Dell Stock Rising Today, Sept. 15?](https://longbridge.com/en/news/299074374.md) - [Dell Booked More AI Server Orders in 3 Months Than It Recorded in Total Revenue](https://longbridge.com/en/news/298817198.md) - [European chip startup Axelera wins AI factory supply deals and launches second chip](https://longbridge.com/en/news/299047417.md) - [Is the AI bubble bursting?](https://longbridge.com/en/news/298981516.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**