Marvell Technology is set to report second-quarter earnings on Aug. 28, following Nvidia’s results. Marvell’s stock surged 83% in 2024 but has since fallen over 30%. Analysts are watching for signs of stronger AI chip demand and a potential rebound.

Marvell posted first-quarter results slightly above expectations, with revenue of $1.9 billion and adjusted earnings of $0.62 per share. Guidance for the second quarter is in line with estimates, and investors are eager to see if AI chip demand will strengthen.

Tech giants like Microsoft, Alphabet, and Amazon are investing billions in data centers, signaling high demand for AI chips. Wall Street is watching to see if this trend will benefit companies beyond Nvidia. Analysts are divided on Marvell’s technical outlook, but some see room for a breakout.

Citi maintains a buy rating on Marvell stock with a price target of $96. The firm expects steady near-term fundamentals with potential growth in data center opportunities. Investor focus has shifted to 2026 sales outlook, which could see 19% year-over-year growth.

Marvell stock closed at $74.26 on Aug. 26. Analysts and investors are closely monitoring the company’s upcoming earnings report and its performance in the AI chip market.

Read more at Yahoo Finance: Analysts reset Marvell Tech stock forecast before earnings