Marvell Stock Drops After Rally but Analysts Remain Optimistic Ahead of Q2 Earnings
Marvell Technology (MRVL) stock has fallen by over 35% from its 52-week high following a significant rally. Despite the decline, analysts remain optimistic ahead of Marvell's second-quarter earnings report on August 27 due to strong customer demand for data center products and robust bookings indicating long-term growth potential. The company is benefiting from increased capital spending by hyperscalers investing in AI infrastructure, which supports semiconductor suppliers like Marvell. Management expects Q2 revenue of $2.7 billion, a 12% sequential increase and up 35% year-over-year. Data center revenue is projected to grow significantly, with expectations for mid-to-high teens growth sequentially and around 45% YOY. Marvell's revised outlook anticipates reaching the $3 billion quarterly revenue milestone as early as Q3 of fiscal 2027 due to sustained demand. For full-year fiscal 2027, Marvell forecasts a roughly 40% increase in total revenue and nearly 50% growth in data center revenue.
Tickers: $MRVL
Topics: Marvell Technology MRVL stock price movement Q2 earnings expectations