Marvell Stock After Investor Day: Bull and Bear Case From…
By Tobi Opeyemi Amure
AI summary of the source article
Marvell Technology closed at $287.01 following its New York Investor Day, where it guided for fiscal 2031 revenue of $70 billion to $90 billion and earnings per share of $30 or more. The company also increased its fiscal 2028 revenue target from $18 billion to roughly $20 billion, driven primarily by data center demand. Following the announcement, trading volume surged past 51 million shares, and brokerages including Jefferies, Evercore ISI, and TD Cowen raised their price targets to between $350 and $450. The projections depend heavily on data center capital spending expanding to $3 trillion by 2030, presenting both growth potential and execution risk.
Why it matters
The aggressive long-term targets demonstrate high supplier expectations for sustained AI data center capital expenditures, directly impacting semiconductor market valuations and broker forecasts.
Key facts
- Marvell set a first-ever fiscal 2031 revenue target of $70 billion to $90 billion and targeted EPS of $30 or more.
- The fiscal 2028 revenue goal was raised to about $20 billion, with roughly $18 billion expected from data centers.
- Following the event, Jefferies lifted its price target to $450, Evercore ISI to $433, and TD Cowen upgraded the stock to Buy at $350.