Marvell's Q3 earnings soar with a 98% increase in data center revenue, strong growth forecast.

From Nasdaq: 2024-12-10 05:00:00

Marvell’s Q3 earnings soar with a 98% increase in data center revenue, positioning the company as a major player in AI. Analysts project 26% year-over-year growth and a Zacks Rank #1. Marvell’s partnership with Amazon for AI chip design solidifies its position in the market, with a 73.6% forecasted earnings increase for next year.

Wall Street analysts unanimously upgrade Marvell’s earnings estimates, with a 39.4% sales growth forecast for next year. Marvell stock surged 23% after strong earnings but presents a buying opportunity after a 5% pullback. With AI driving growth and a top Zacks Rank, MRVL remains a compelling addition to portfolios.

Zacks Investment Research spotlights Marvell, Nvidia, Microsoft, Alphabet, and Amazon as top stocks for 2025. Marvell’s impressive performance in AI chip design, partnerships with tech giants, and strong growth forecasts make it a standout pick for investors. With a Zacks Rank #1, Marvell’s position in the AI market is set to drive significant growth in the coming year.



Read more at Nasdaq: Zacks Investment Ideas feature highlights: Marvell, Nvidia, Microsoft, Alphabet and Amazon