Marvell\u2019s Expansive Customer Roster<\/p>\n
Nvidia became an investor in Marvell in March. Last month, Marvell\u00a0announced<\/a> a custom and investment deal with Alphabet’s Google, the last cloud giant to partner with the company.\u00a0<\/p>\n The Google deal could\u00a0bring in<\/a> $120 billion in revenue through fiscal 2033 and make the search giant one of its biggest investors, with up to a $12.2 billion stake. Still, Marvell\u2019s last quarterly report failed to impress as the company said revenue from the deal would flow in more substantially in 2029.<\/p>\n MRVL stock<\/a> rose 0.8% on Tuesday, capping a three-session rally of over 10%. Shares rose 0.5% in the overnight session. They are up 166% year to date.<\/p>\n Does Qualcomm-Amazon Deal Pressure Marvell?<\/p>\n On Tuesday, Qualcomm, best known for wireless chips and Snapdragon processors, announced that Amazon Web Services will use its custom silicon for AI inference and data-center networking. The pact also gives Amazon the right to acquire up to $4 billion in Qualcomm stock.<\/p>\n Murphy dismissed competitive pressure.\u201cI think it\u2019s a competitive market,\u201d he told CNBC. \u201cWe\u2019re very confident in our position and how we\u2019ve evolved in this market across all the U.S. hyperscalers and the entire ecosystem.\u201d<\/p>\n Marvell makes data-center and networking semiconductors and is best known for custom AI ASICs (Application-Specific Integrated Circuit), Ethernet switches, optical interconnects, and storage controllers that power AI servers and cloud infrastructure.<\/p>\n Retail, Analyst View On MRVL<\/p>\n On Stocktwits, retail sentiment for MRVL dipped over the weekend and was \u2018bearish\u2019 as of late Tuesday, with traders posting about the Qualcomm-Amazon deal and Murphy\u2019s interview.<\/p>\n \u201c$MRVL Amazon chose Qualcomm, it might be cooked,\u201d\u00a0said<\/a> a trader.<\/p>\n Currently, 39 out of 44 analysts recommend \u2018Buy\u2019 or higher on the stock, and five recommend \u2018Hold,\u2019 per Koyfin. Their average price target of $285 implies a 26% upside to the stock\u2019s closing price on Tuesday.<\/p>\n For updates and corrections, email newsroom[at]stocktwits[dot]com.<\/p>\n Read Next:\u00a0QCOM Stock Extends Gains Overnight: Analyst Says Amazon AI Deal ‘Changes Calculus For Qualcomm’<\/a><\/p>\n \u00a0<\/p>\n
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