What Marvell's Rosy Long-Term Guidance Means for Our AI Chip Stocks

Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.

What Marvell's Rosy Long-Term Guidance Means for Our AI Chip Stocks

TL;DR

  • The S&P 500 and Nasdaq are on track for record closes.
  • Treasury yields declined slightly, and WTI crude remained below $90 per barrel.
  • Every sector in the S&P 500 was positive except healthcare.
  • Utilities and industrials led gains following Google's power agreement with Constellation Energy.
  • Marvell Technology raised its fiscal 2028 revenue outlook to $20 billion, citing strong demand for data center connectivity and custom chips.
  • Marvell anticipates its custom chip business to triple in fiscal year 2029.
  • The company projects total revenue between $70 billion and $90 billion by fiscal year 2031.
  • Marvell estimates data center capital expenditures will reach $3 trillion by 2030.