Wall Street reached fresh record highs this week, supported in part by reports that the U.S. and Iran had agreed to extend a ceasefire and to remove restrictions on vessels transiting the Strait of Hormuz. Market momentum was further reinforced by a slate of earnings beats and strategic announcements that have shifted investor sentiment in technology and related sectors.
Below is a closer look at the stocks that led market moves this week.
Dell Technologies
Dell Technologies staged one of the most dramatic moves, jumping more than 28% on Friday and moving comfortably above the $400-per-share level after releasing quarterly results late Thursday that topped consensus expectations. The company attributed part of the upside to its deeper emphasis on AI-optimized servers, positioning it to benefit from the surge in data center spending.
Following the earnings release, Susquehanna analyst Mehdi Hosseini upgraded Dell from Neutral to Positive and substantially lifted his price target to $700, from $138. Hosseini highlighted Dell’s market-share gains and potential for further upside as customers skip an intermediate server generation and adopt newer platforms, writing that “Dell has already gained ~600bps of share, with further upside as customers upgrade from 14th-gen to 16th/17th-gen servers while skipping 15th, supporting higher ASPs/margin profile.”
Snowflake
Snowflake shares surged 36.5% on Thursday and gained an additional 4.5% so far on Friday, leaving the stock just below the $250 mark. The rally followed a first-quarter report that beat analyst expectations and management’s decision to raise full-year guidance. Investors reacted strongly to a major collaboration announced with Amazon Web Services, described as a multi-year agreement aimed at accelerating enterprise adoption of AI globally.
Unusual Machines
Unusual Machines climbed more than 57% on Thursday and is up nearly 105% over the past week after media reports suggested the U.S. government is in discussions to provide funding to domestic drone makers, with UMAC mentioned among the firms in those discussions. The surge reflects investor appetite for defense-adjacent and unmanned systems exposure amid the funding talk.
NetApp
NetApp also delivered an earnings beat, with the stock jumping more than 26% so far on Friday and rising 45.7% over the last week. The shares had been on an upward trajectory heading into the release. In response to the results, Barclays analyst Tim Long increased his price target to $199 from $120 and maintained an Overweight rating on the shares.
"NTAP delivered a beat from top to bottom lines and on margins. Product margins a surprising beat following last Q's miss," Long wrote. "Public Cloud (ex-Spot) high-teens growth momentum sustains with further GM expansion. AFA strong as well."
ServiceNow
ServiceNow has added more than 21% over the past week, including a gain in excess of 13% so far on Friday. The rebound in ServiceNow and other enterprise software names reflects a reduction in investor concern about AI-related disruption to enterprise tech vendors, a theme that had weighed on the sector. Market participants point to Snowflake’s strong results and partnership announcement as a tangible example of AI-driven revenue growth, which contributed to reversing a prolonged, fear-driven selloff that affected the software sector throughout 2026.
Collectively, these moves show how earnings beats, strategic AI tie-ups and reports of potential government support for specific industries can drive rapid repositioning across equity markets. Technology, data center infrastructure and certain industrial or defense-related small caps were the clearest beneficiaries in this episode.