Marvell raises 2028 revenue forecast on strong AI data center demand

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 the company's performance.

Marvell raises 2028 revenue forecast on strong AI data center demand

Oct 6 : Marvell raised its 2028 revenue forecast to about $20 billion on Tuesday, citing strong demand for its chips used in data centers.Shares of the company rose nearly 9 per cent in early trading. The stock has more than tripled in value so far this year.Marvell had forecast $18 billion in revenue

Marvell’s Fiscal 2028 Revenue Outlook Stands at About $18 Billion

The company set the outlook in its Aug. 27 earnings release.