Marvell Technology Q3: Accelerating Growth Ahead
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Marvell Technology is experiencing robust growth, particularly in its data center business, driven by custom silicon solutions. The company has expanded its partnership with Amazon AWS, enhancing its position in the AI computing market. A 'Strong Buy' rating is reiterated with a target price of $130 per share.
December 04, 2024 | 6:30 am
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Marvell Technology's data center business has grown 98% year-over-year, now making up 72.6% of total revenue. The company's expanded partnership with Amazon AWS in AI products and Ethernet switching silicon is a key growth driver. A 'Strong Buy' rating is reiterated with a target price of $130.
The article highlights Marvell's significant growth in its data center business, driven by custom silicon solutions, and its expanded partnership with Amazon AWS. These factors are likely to positively impact Marvell's stock price in the short term, supporting the reiterated 'Strong Buy' rating and target price of $130.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100