From Nasdaq: 2024-04-09 14:23:18

Marvell Technology stock (NASDAQ: MRVL) hits new highs due to anticipated AI demand in data centers. KeyBanc analysts maintain buy rating with a price target of $90, noting potential product delays. Total revenue grew 1% year over year, with data center revenue increasing by an impressive 54%. Marvell may face delays in products for Amazon Web Services and Nvidia. The stock has a high forward P/E ratio of 50 and earnings per share estimate of $3.33 in the next two years. Investors need to balance high expectations with potential challenges to see big returns.

Considerations for investing $1,000 in Marvell Technology: Motley Fool’s Stock Advisor team does not include Marvell in their 10 best stocks to buy now. The service provides guidance on building a portfolio, regular updates, and two new stock picks monthly. Stock Advisor has outperformed the S&P 500 since 2002. Notable figures with positions in Amazon, Nvidia, and Marvell include John Mackey and John Ballard. Investors should evaluate potential returns and consult with financial advisors before making investment decisions.



Read more at Nasdaq: Marvell Technology Stock Has 24% Upside, According to 1 Wall Street Analyst