Marvell Technology (MRVL) Explores AI ASICs, Jim Cramer Optimistic

Jim Cramer recently discussed Marvell Technology, Inc. (MRVL), a semiconductor designer whose shares have dropped 44% this year. The stock sank 18.5% after its fiscal second-quarter earnings report missed analyst revenue estimates of $2.11 billion. Cramer mentioned Marvell’s AI chips called ASICs, expressing positive sentiments towards the company.

Cramer previously praised Marvell Technology, Inc. (MRVL), stating that the stock could potentially rise higher. He highlighted the leadership of CEO Matt Murphy and hinted at the stock reaching $100.

While Marvell Technology, Inc. (MRVL) shows promise as an investment, there are other AI stocks with higher return potential and limited downside risk.