All articles tagged with #marvell
Marvell is acquiring XConn Technologies to expand its AI data center connectivity solutions, adding advanced PCIe and CXL switching silicon, and strengthening its UALink scale-up switch team to support next-generation AI workloads and data center infrastructure.
Marvell Technology's stock surged over 10% after reporting strong quarterly earnings, a positive data center growth forecast, and announcing the acquisition of chip startup Celestial AI, signaling a focus on expanding its presence in the AI and data center markets.
Marvell is acquiring Celestial AI to enhance its optical interconnect technology for next-generation AI and data center infrastructure, aiming to lead the shift from electrical to optical connections within data centers, with expected revenue contributions starting in 2028.
Marvell's stock declined after mixed quarterly results, with revenue slightly below expectations but earnings forecasted to improve. Despite concerns over data center growth and recent auto business sale, top analyst Harsh Kumar maintains a bullish outlook with a $85 target, citing potential upside and a strong consensus rating of 'Strong Buy.'
Marvell Technology's stock declined after its strong second-quarter results were overshadowed by cautious third-quarter guidance, leading Wall Street to revise down its near-term growth forecasts amid mixed signals of ongoing demand in AI and enterprise markets.
Marvell's stock dropped 16% after its data center revenue and future guidance fell short of expectations, despite a record revenue increase driven by AI demand, with concerns about growth prospects and lack of clarity on new customer pipeline affecting investor confidence.
Marvell Technology reported strong earnings but issued a sales forecast below Wall Street expectations, leading to an 8% drop in after-hours trading. The company highlighted increased demand for AI and enterprise networking products, but investors reacted to the sales outlook, causing the stock to decline despite recent gains.
Marvell's stock declined after its Q2 earnings report fell short of expectations, leading to a decrease in investor confidence and a drop in share price.
Marvell Technology's stock has declined significantly this year, but analysts see potential value due to its involvement in AI chip design for major clients like Amazon and Microsoft. Despite concerns over its market share and growth compared to Nvidia, Marvell's progress with custom AI hardware and upcoming events could boost investor confidence and valuation.
Marvell Technology reported solid Q1 earnings with revenue of $1.90 billion and adjusted EPS of 62 cents, slightly beating expectations, driven by strong data center segment growth. Despite the positive results, its stock fell 2.3% after hours as the company faces industry headwinds and a challenging stock performance in 2025, with a focus on the shift towards custom chips by hyperscalers and tech giants.
Bank of America analysts have identified Marvell, Micron, and AMD as potential beneficiaries of the growing demand for AI technology. Micron's price target was raised due to the potential of high bandwidth memory (HBM) products, crucial for AI applications. The analysts expect HBM demand to grow significantly, and they believe Micron could expand its market share in this area. Additionally, reports of Microsoft and OpenAI planning a massive investment in a data center for AI software have also contributed to the positive sentiment in the chip-making industry.
Citi has downgraded two specialty-semiconductor stocks due to competition fears, but maintains a Buy rating for Nvidia and Marvell.
Affirm's stock rose 10.8% after reporting better-than-expected quarterly results, with improved credit results and accelerated growth. Nordstrom's shares fell nearly 4% despite beating earnings and revenue expectations, as sales declined from the previous year. Gap's stock rose almost 2% despite mixed quarterly results, with adjusted earnings beating estimates but revenue falling short. Marvell's shares dropped over 5% despite surpassing Wall Street's estimates for earnings and revenue. Ulta Beauty's stock gained over 2% after reporting better-than-expected second-quarter results and raising its full-year forecast. Intuit's shares fell over 2% despite beating earnings expectations, as its revenue guidance for the current quarter fell below estimates. Workday's stock jumped 4% after posting a beat on the top and bottom lines in the second quarter and raising its fiscal 2024 subscription revenue forecast.
Analysts have issued calls on several major companies, including Apple, Marvell, Microsoft, Target, RH, Costco, and Amazon. The calls cover a range of topics, from earnings expectations to potential market share gains.
Marvell Technology is the latest chip maker to surge in the stock market as it forecasts AI to be a long-term growth driver, following in the footsteps of Nvidia. The artificial-intelligence frenzy is powering another technology stock rally.