Marvell Technology Stock Jumps on Optimism Driven by ‘Custom AI'
MRVLMarvell Technology(MRVL) Investopedia·2024-12-05 06:30

Key TakeawaysMarvell Technology shares led Nasdaq 100 stocks higher in the wake of strong fiscal third-quarter results released after the bell Tuesday.The chipmaker's fourth-quarter revenue forecast came in significantly higher than the analyst consensus estimate.Bank of America (BofA) analysts said Marvell Technology could post 20% to 25% long-term sales growth. Marvell Technology's (MRVL) stock rise topped all Nasdaq 100 gainers Wednesday after the chipmaker posted a current-quarterly forecast that signif ...