US stocks: Marvell raises 2028 revenue forecast on strong AI data center demand
Marvell has increased its revenue forecast for 2028 to around $20 billion due to strong demand. The company's shares surged nearly 9% in early trading following the announcement. Previously, Marvell had projected $18 billion in revenue in August, while analysts expected slightly higher figures. This year, the stock has tripled in value, reflecting investor confidence in...
Key Takeaways
- Marvell has increased its revenue forecast for 2028 to around $20 billion due to strong demand.
- The company's shares surged nearly 9% in early trading following the announcement.
- Previously, Marvell had projected $18 billion in revenue in August, while analysts expected slightly higher figures.
Marvell has increased its revenue forecast for 2028 to around $20 billion due to strong demand. The company's shares surged nearly 9% in early trading following the announcement. Previously, Marvell had projected $18 billion in revenue in August, while analysts expected slightly higher figures. This year, the stock has tripled in value, reflecting investor confidence in the company's performance.
Original Publisher Attribution
This summary was curated from Economic Times.