Marvell just impressed Wall Street with ‘good numbers plus a better story’

Marvell just impressed Wall Street with ‘good numbers plus a better story’ Marvell just impressed Wall Street with ‘good numbers plus a better story’ Marvell’s stock is popping after the company not only delivered with its financial forecasts but also demonstrated its diversified mix of customers and products Shares of Marvell were up 6% after the company announced upbeat long-term revenue targets. Marvell Technology’s stock has been one of the S&P 500’s top performers in 2026, and the company just hinted that its good times could last for years. were up 6% on Tuesday after the company impressed investors by posting new long-term revenue targets. For instance, the company is targeting about $80 billion in revenue by fiscal 2031, which ends in January of that year.

Morningstar analyst William Kerwin told MarketWatch that this forecast marks a “strong endorsement that huge AI spending is going to continue over the next five years.” Video 91/1 Skip Ad Continue watching after the adVisit Advertiser websiteGO TO PAGE What's next for SpaceX as more shares enter the market and capex jumpsSee All Videos What's next for SpaceX as more shares enter the market and capex jumps Play video: What's next for SpaceX as more shares enter the market and capex jumps Don’t Short Yourself offers weekly money tips to help you earn it, stack it and grow it. I agree to the Terms of Use, Privacy Notice and Cookie Notice. I would like to receive updates and special offers from Dow Jones and affiliates.

I can unsubscribe at any time. For fiscal 2029, Marvell expects $12 billion in revenue from custom AI accelerators and related products, whereas it had forecast $10 billion as recently as late August. Kerwin said management has “proven itself credible” on long-term targets.

He added that he appreciates Marvell’s push into connectivity products and the diversity of its customer base. The company indicated that the $80 billion figure is based on Marvell’s analysis of “design wins already won,” Stifel analyst Tore Svanberg told MarketWatch. In that sense, not only are the company’s long-term targets above what investors had expected, but also Marvell is making the estimates with a clearer sense of its demand. **Read more:**The old new thing: Cisco and retro tech are back and forming the AI buildout’s backbone Simply put, Marvell revealed “good numbers plus a better story,” Seaport analyst Jay Goldberg told MarketWatch.

He said the company has broadened its customer base to include multiple hyperscalers — or large cloud companies that provide computing power. The company has also made progress in broadening its business, including through networking products. **See also:**The murky AI milestone that has some of the industry’s leading voices increasingly on edge Marvell’s stock is up 226% so far this year, a gain that ranks sixth among S&P 500 Copyright ©2026 MarketWatch, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 My brother-in-law convinced his parents to sign over their home and life savings to buy a $3 million compound.

When can I finally retire? Loneliness and social isolation can take six years off your life These 5 chip stocks are cheaper than the S&P 500 —and offer faster growth Hannah Pedone is a New York–based technology reporter for MarketWatch. Intraday Data provided by FACTSET and subject to terms of use.