Marvell Technology Inc is a global semiconductor company that specializes in designing and manufacturing innovative solutions for data infrastructure. The company focuses on providing a wide range of products, including integrated circuits and system-on-chip solutions, that cater to applications in networking, storage, and processing. Marvell's technology enables efficient data transmission and storage, supporting various industries such as telecommunications, computing, and automotive. By leveraging advanced technologies, Marvell aims to drive the performance and efficiency of data centers and enterprise networks, while also contributing to the evolution of connected devices and smart technologies.
Shares of networking chips designer Marvell Technology (NASDAQ: MRVL)
jumped 22.6% in the afternoon session after the company reported strong third-quarter results that exceeded Wall Street's sales and earnings expectations. Sales grew by 19% sequentially amid unwavering AI demand, particularly in data center end markets.
In addition, Marvell expects to significantly exceed the guide of $1.5B for AI revenue this year and is optimistic about achieving its $2.5 billion target for FY26.
Looking ahead, its full-year revenue and EPS guidance also exceeded consensus estimates.
Wall Street extended its rally on Wednesday, driven by robust gains in technology stocks, as investor optimism around AI-fueled growth continued to strengthen.
Marvell shares are trading higher on Wednesday after the company reported better-than-expected 2025 fiscal-year third-quarter earnings and issued fourth-quarter guidance above estimates on Tuesday after the bell.
Networking chips designer Marvell Technology (NASDAQ: MRVL) beat Wall Street’s revenue expectations in Q3 CY2024, with sales up 6.9% year on year to $1.52 billion. On top of that, next quarter’s revenue guidance ($1.8 billion at the midpoint) was surprisingly good and 9.3% above what analysts were expecting. Its non-GAAP profit of $0.43 per share was 5.5% above analysts’ consensus estimates.
Amazon's cloud unit showcased new AI chips at Re:Invent event, targeting Nvidia's market share. Apple and Marvell are customers, Trainium3 coming in 2025.
