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BofA Securities analyst Vivek Arya has reiterated a Buy rating on Marvell Technology, Inc. (NASDAQ: MRVL) with a price forecast of $95. Arya sees Marvell showcasing its computing, electro-optics, networking, and custom-chip design assets at its upcoming event on April 11. He believes that Marvell has the potential to expand its total addressable market (TAM) by $20 billion-$30 billion and capture a significant share in AI accelerators and server ASICs.
Arya projects significant growth opportunities for Marvell in high-speed Ethernet switches and optics as well. He expects the company to maintain its gross margin profile while growing its custom chip contributions. Additionally, Arya forecasts the accelerator market to double year over year and reach $180 billion-$200 billion by 2027, with Marvell claiming over 10% share in the custom AI chip market.
Overall, Arya expects Marvell to become more relevant in the AI chip market, potentially reaching $2 billion-$3 billion in annual revenue by 2026/2027. Currently, MRVL shares are trading at $72.29, up 2% on the last check Friday.
Don’t miss out on this opportunity to invest in promising “triple-threat” stocks like Marvell Technology, Inc (NASDAQ: MRVL). Subscribe to Tim Melvin’s Yield Report now and unlock potential opportunities for growth in various market conditions!
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