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In addition, index provider S&P Dow Jones Indices ensures a balanced mix of sectors. On September 21, there will be a reshuffle in the S&P 100. Four stocks, including sportswear giant Nike, will have to leave the index. Among the newcomers is Dell Technologies. The computer maker\u2019s rise, which was only added to the S&P 500 two years ago, follows a rapid share-price rally: Since the beginning of the year, the stock has gained 316%, making it the fourth-best-performing stock in the S&P 500 Index.<\/p>\n\n<div><generic-chart title=\"Dell Share price (in USD)\"> \n    <chart-line title=\"Dell\" path=\"Chart_Dell.csv\" format=\"date, number\"><\/chart-line> \n    <x-axis type=\"datetime\"><\/x-axis> <\/generic-chart><\/div>\n<footer>Source: Refinitiv, as of: 08.09.2026<br />Historical data is not a reliable indicator of future performance.<\/footer>\n\n<h3>Strong Numbers<\/h3>\n<p>The rally is being driven by the fact that many IT infrastructure providers appear to be competing fiercely for the Texans\u2019 servers. These high-performance machines are used to build and train AI models. High-performance chips provide the necessary computing power \u2013 Dell works with semiconductor and AI powerhouse Nvidia, among others, in this area. With its latest figures, the company could provide fresh evidence of the boom. Dell posted record revenue and earnings in the second quarter of fiscal 2027 (ending in January). Management, led by CEO and company founder Michael Dell, also raised its guidance for the second time this year.<\/p>\n\n<h3>Pure Optimism<\/h3>\n<p>The latest guidance calls for revenue of around USD 192 billion in fiscal 2027, USD 25 billion more than previously expected. If this target is achieved, the business would grow by around 70%. Revenue from the sale of AI servers is expected to triple. In this area alone, the company now has an order backlog of almost USD 100 billion. Dell expects earnings per share (Non-GAAP Diluted EPS) to increase by around 150% in the current fiscal period. The business is being driven not only by the expansion and modernisation of data centres. The company is also making good progress in its traditional hardware business, which includes PCs, notebooks and monitors. In the second quarter, revenue in the «CSG» segment increased by one-fifth, while operating income grew by 42%.<\/p>\n\n<div>\n<generic-chart title=\"Revenue (in USD Mrd.) and Earnings per share (in USD)\">\n  <x-axis categories=\"2021,2022,2023,2024,2025,2026,2027\"/>\n      <chart-column title=\"Revenue (in USD Mrd.)\" data=\"86.80,101.20,102.30,88.40,95.60,113.50,192\" format=\"number\"/>\n      <chart-line title=\"Earnings per share (in USD)\" data=\"4.88,6.22,7.61,7.37,8.14,10.30,25.50\" format=\"number\" yAxisRight=\"true\"<\/>\n<\/generic-chart> \n<\/div>\n<footer>Source: Dell, as of: September 2026, Fiscal year: 2027<br />Historical data is not a reliable indicator of future performance.<\/footer>\n\n<h3>Opportunities and Risks<\/h3>\n<p>For investors who are hesitant to invest directly given the steep upward trajectory of the share price, Leonteq has a suitable alternative: Softcallable Barrier Reverse Convertibles on Dell are now available on the market. The large cap\u2019s comparatively high volatility provides attractive terms for this structure. In CHF, the product offers a guaranteed coupon of 18% p.a. Investors allocating their capital in USD can expect a quarterly payout of 22% p.a. The barrier is set at 55% of the initial share price. As long as Dell does not fall to or below this level, the issuer will repay the nominal amount in full at maturity. Naturally, the underlying stock\u2019s sharp price swings also mean a higher risk of breaching the barrier compared with less volatile underlying assets. Should Dell correct and reach or fall below the barrier, the partial protection would cease to apply.<\/p>\n\n<p>The Wall Street high-flyer is also interesting for traders. They can take leveraged positions on both the long and short side. Leonteq currently offers more than 70 warrants, knock-out warrants and mini-futures on Dell.<\/p>\n\n<h3>Callable Barrier Reverse Convertibles<\/h3>\n<div>  \n    \n    <SavedSearch :allProducts=\"false\" :filter=\"{&quot;partner&quot;:&quot;LEONTEQ&quot;,&quot;currencies&quot;:[],&quot;issuers&quot;:[],&quot;productCategories&quot;:[&quot;PC_YIELD_ENHANCEMENT&quot;],&quot;productGroups&quot;:[],&quot;productTypes&quot;:[],&quot;maturityRangeKey&quot;:[],&quot;distanceToBarriers&quot;:[],&quot;barrierLevelRanges&quot;:[],&quot;strikeLevelRanges&quot;:[],&quot;underlyings&quot;:[],&quot;omni&quot;:&quot;\\&quot;CH1555867410\\&quot;\\&quot;CH1555867436\\&quot;&quot;,&quot;conditions&quot;:{&quot;+snapshot.product.attributes.extended_trading_hours:true&quot;:false,&quot;&quot;:true,&quot;+snapshot.product.in_subscription:(\\&quot;LEONTEQ\\&quot;)&quot;:false,&quot;-_exists_:snapshot.product.in_subscription&quot;:false},&quot;marketVenues&quot;:[],&quot;assetClasses&quot;:[],&quot;barrierTypes&quot;:[],&quot;countrySpecificTitles&quot;:[],&quot;couponFrequencies&quot;:[],&quot;sortFields&quot;:[{&quot;fieldName&quot;:&quot;snapshot.product.investment.investment_currency&quot;,&quot;sortOrder&quot;:&quot;ASC&quot;}],&quot;displayColumns&quot;:[&quot;coupon&quot;,&quot;underlying&quot;,&quot;barrierPercentage&quot;,&quot;currency&quot;,&quot;lastTradingDate&quot;,&quot;tenor&quot;,&quot;bidAsk&quot;,&quot;subscriptionEndDate&quot;,&quot;valor&quot;,&quot;documentLinks&quot;]}\">\n                <\/SavedSearch>\n  <\/div>\n\n<h3>Leverage products on Dell<\/h3>\n    <div>  \n        \n                                                                                                                                                                                                                                                                            \n            <leverage-saved-search :columns=\"[ 'engine.isin', 'engine.valor', 'Type', 'Direction', 'engine.underlying', 'engine.currency-abbr', 'Strike', 'Leverage', 'Ratio', 'engine.maturity', 'Bid', 'Ask']\" :filter=\"{&quot;conditions&quot;:{&quot;+_exists_:price.ask +price.state:(\\&quot;OPEN\\&quot;, \\&quot;CLOSED\\&quot;)&quot;:false,&quot;+_exists_:levels.stopLossLevelAbs&quot;:false,&quot;+priceIndication.extendedTradingHours:true&quot;:false},&quot;underlyings&quot;:[&quot;126388855&quot;],&quot;productTypes&quot;:[&quot;PT_MINI_FUTURE&quot;],&quot;searchable&quot;:true,&quot;leverage&quot;:{&quot;min&quot;:5.365,&quot;max&quot;:9007199254740991}}\" />\n  <\/div>\n    \n<div>\n    <ltq-button color=\"primary\" url=\"https://structuredproducts-ch.leonteq.com/leverage/1cW?language_id=1\" label=\"Discover more leverage products!\"><\/ltq-button><\/div>\n<div>      <p>We look forward to answering all of your questions about our products and how they are traded. Please don't hesitate to get in touch! Phone: <a href=\"tel:+41588001111\">058 800 11 11<\/a>, email <a href=\"mailto:info@leonteq.com\">info@leonteq.com<\/a> or <a href=\"/contact\" title=\"Contact\">contact us here<\/a>.\n<\/p>\n  <\/div>","url":"coupon-dell","investmentThemeVerticalImageUrl":"https://structuredproducts-ch-live-pre.leonteq.com/product-news/sidenav-banner/Dell2026_Leonteq-Structured-Products_Sidenav%20Banner.jpg","thumbnailUrl":"https://structuredproducts-ch-live-pre.leonteq.com/product-news/thumbnail/Dell2026_Leonteq-Structured-Products_Thumbnail.jpg"}
