Tech Shares Surge as Dell Hits New High, Apple Unveils Foldable iPhone

Dell Technologies Inc (NASDAQ:DELL) shares have broken through an all-time high of $562. This increase comes after RBC Capital Markets initiated coverage with an Outperform rating and a $640 price target. The firm cited enterprise demand for AI investments, compute modernization, storage expansion, and PC refresh as key drivers that should sustain results above Dell's long-term targets.

On the other hand, American Eagle Outfitters Inc. (NYSE:AEO) shares declined by nearly 16% on Thursday following mixed second-quarter results. While revenue modestly exceeded consensus expectations, reported earnings received a significant boost from tariff refunds. Consolidated sales rose 8% to $1.38 billion, with comparable sales up 6%, driven by growth at the Aerie and American Eagle brands.

Apple Inc (NASDAQ:AAPL) saw its shares increase by 3.1% after unveiling its first foldable iPhone, the $1,999-and-up iPhone Duo. This move positions Apple in a market that Samsung, Google, and Huawei have dominated for years.