Marvell Technology's Revenues To Recover On AI Demand; These 9 Analysts Dive Into Q1 Results
Portfolio Pulse from Priya Nigam
Marvell Technology Inc (NASDAQ:MRVL) shares dropped by 9.07% after missing earnings for its fiscal first quarter. Despite the miss, several analysts maintained positive ratings and raised price targets, citing strong AI-related revenue growth and potential recovery in other segments.
May 31, 2024 | 3:29 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Marvell's earnings were driven by strength in the Data Center business, including a significant contribution from Amazon's custom silicon.
Amazon's custom silicon contributed significantly to Marvell's Data Center business, which was a key driver in the company's earnings. This indicates a positive impact on Amazon's business related to its custom silicon products.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 20
POSITIVE IMPACT
Marvell Technology's shares fell 9.07% after missing Q1 earnings. Analysts remain optimistic, citing strong AI-related revenue growth and potential recovery in other segments.
Despite the initial drop in share price due to missed earnings, multiple analysts have maintained positive ratings and raised price targets. The strong AI-related revenue growth and potential recovery in other segments are expected to drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100