Funding & Business
Dell Raises Annual Forecasts on Strong Demand for AI Servers
Dell Technologies Inc. boosted its annual outlook and posted quarterly sales and profit that topped analysts’ estimates, building on continued strong demand for artificial intelligence servers that power an expanding fleet of data centers.
Earnings, excluding some items, will be about $9.55 a share in the fiscal year ending in January, an increase from a May forecast, Texas-based Dell said Thursday in a statement. The company raised its annual sales projection to about $107 billion from about $103 billion. Analysts, on average, projected profit of $9.43 a share on revenue of $105.2 billion.
China’s factory activity remained stuck in contraction in August, as a government crackdown on price wars holds back production offset the boost for manufacturers of the US’ extended trade truce.
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While Chinese stocks traded in Hong Kong climbed for a fourth straight month, derivatives wagers show investors are skeptical about the market.
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Sales of corporate bonds to Japan’s mom and pop investors are booming, on track to surpass last year’s record as bigger returns draw buyers looking to protect their savings from inflation.
Well-known names such as railway operator Keio Corp. and supermarket giant Aeon Co. are among those tapping the retail bond market, with the latter selling its debut retail bond on Friday.
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