Dell Surpasses NVIDIA as Top Performer in 2026 with 240% Year-to-Date Growth

Dell Technologies (NYSE:DELL) has been on fire in 2026, surging 240.76% year-to-date as of September 1, outperforming NVIDIA (NASDAQ:NVDA), which is up 16.73% over the same period.

This impressive growth can be attributed to Dell's record-breaking $95 billion AI server backlog and its significant operating income growth of 203%. The company's P/E ratio stands at around 23, compared to NVIDIA's 44, providing room for rerating.

Jim Cramer, a well-known financial analyst, has been vocal about Dell's potential, calling it the 'most important stock' today. He praised Dell's Q2 FY27 results, citing revenue growth of 57.8% year-over-year and adjusted EPS beating estimates by 43.69%. Cramer also highlighted the company's AI server orders, which reached a record $60.9 billion.