Broadcom's AI Push Prompts 22% Stock Surge, $90B Forecast by 2027 [Yahoo! Finance]
Marvell Technology, Inc. (MRVL)
Last marvell technology, inc. earnings: 3/4 04:05 pm
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Source: Yahoo! Finance
Broadcom ( AVGO Financial ) shares popped up by 22% on Friday after the company reported strong quarterly results and announced a bold projection, predicting $90 billion in revenue from custom AI chips by 2027. The stock surge pushed the stock's valuation north of $1 trillion, and its peers in the semiconductor sector, including Marvell Technology ( MRVL Financial ) and Nvidia ( NVDA Financial ), also posted gains. According to CEO Hock Tan, the serviceable addressable market for a custom AI accelerator, known as an XPU, could rise to between $60 billion and $90 billion by fiscal year 2027, thanks to key customers such as Google ( GOOG Financial ) and Meta Platforms ( META Financial ). But if Broadcom gets contracts from Microsoft ( MSFT Financial ) or Amazon ( AMZN Financial ), this figure would increase further, analysts said. Increased investor confidence led Jefferies' Blayne Curtis to raise his price target for Broadcom to $225 from $205. Joseph Moore of Morgan Stanley raise
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MRVL
News
- Marvell Technology, Inc. (NASDAQ: MRVL) had its price target raised by analysts at Morgan Stanley from $102.00 to $120.00. They now have an "equal weight" rating on the stock.MarketBeat
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MRVL
Earnings
- 12/3/24 - Beat
MRVL
Sec Filings
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- MRVL's page on the SEC website