Marvell Technology (MRVL) trades near $248, about 21% below its June 4 record close of $316.43. At an Oct. 6 investor day, the company raised its fiscal 2028 revenue forecast to around $20 billion from about $18 billion in August. Data center revenue rose 46% year over year to about $2.17 billion in fiscal Q2, and the roughly $18 billion data center target for fiscal 2028 now arrives a year early. The stock trades at about 34 times fiscal 2028 earnings, down from about 43 times at the June record. The author sees the drop as a possible opportunity but warns that the 10 largest customers made up 82% of fiscal 2026 revenue and that cloud providers are investing in proprietary chip design, so a full position is not yet warranted; the author would add shares gradually as custom chip sales grow in line with management's expectations.
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NVDA
• NeutralNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/28/2026 | 215.39 |
| Change that session | -1.17% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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