Marvell Technology Raises Fiscal 2028 Revenue Guidance
Marvell Technology (MRVL) shares climbed nearly 10% in early trading after the semiconductor firm raised its revenue guidance for fiscal 2028 during an investor day event. The company now expects $20 billion in revenue, up from previous estimates of $18 billion and surpassing analyst forecasts of $18.2 billion. The updated outlook reflects strong confidence in Marvell’s growth trajectory across key markets such as data centers, automotive, and networking infrastructure. Management highlighted robust demand for its products and long-term strategic initiatives driving the upward revision. The move has been well-received by investors who are optimistic about the company's future performance.
Tickers: $MRVL