Marvell Technology's shares have surged 179% in 2026, largely due to increased demand for data center infrastructure amid the artificial intelligence boom. Wells Fargo analyst Aaron Rakers highlighted that Marvell is positioned to grow revenue at a rate of 15-20% over the long term, with expectations of $2.709 billion in revenue for the second quarter, a 35% year-over-year increase.
Earnings per share are projected to rise by nearly 38% to 92 cents. The recent agreement with Google to develop custom chips, allowing Google to purchase up to $12.2 billion of Marvell's shares, has further bolstered investor confidence, contributing to a 10% increase in share price following the announcement.
With 38 out of 44 analysts rating the stock as a buy or strong buy, the outlook for Marvell remains positive as it prepares to report its second-quarter earnings on Thursday