Marvell Technology (MRVL) Stock

A little more than a year ago, during the last week of December 2023, I wrote an article about SoundHound AI (SOUN -1.16%). In it, I explored the possibility of whether this voice AI solutions company could make investors millionaires over time.

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Users of Zacks.com have been paying a lot of attention to Marvell (MRVL) lately. Therefore, it's important to understand the key information that could influence the stock's future.

MRVL's growth powered by AI and its solid financial results make it a great investment, even though it has a high price.

We maintain our buy recommendation for Marvell Technologies due to its strong role in the emerging field of AI, specifically with custom ASICs. The company's new partnership with Amazon AWS and its AI custom ASICs are expected to increase its market potential next year and help it perform well. After a rise in stock price following the Q3 earnings report, it has now decreased slightly, providing a good opportunity to invest at these levels.

Investors frequently depend on analyst recommendations when choosing to buy, sell, or hold a stock. Changes in ratings from these analysts, who work for brokerage firms, can impact a stock's price, but how significant are they really?

The growth of AI and semiconductors is still strong, as governments and big investors are increasing their funding to support further progress. In the US, the CHIPS Act is providing financial support to local chip manufacturers, and recently, SoftBank's CEO Masa Son and Donald Trump revealed a plan to invest $100 billion in the US, concentrating on AI and its related infrastructure.

Marvell Technology, a company that makes integrated circuits for data centers, experienced a 10% increase in its stock on Friday due to positive expectations for its custom AI chips. Although Marvell's stock has nearly doubled this year, the recent rise follows Broadcom's announcement that sales of its AI products are expected to grow by 65% in the first quarter.

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