US stocks: Marvell raises 2028 revenue forecast on strong AI data center demand
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Marvell raised its 2028 revenue forecast to about $20 billion on Tuesday, citing strong demand for its data center chips.
- ✓Shares of the company got a boost and rose nearly 9% in early trading.
- ✓The stock has more than tripled in value this year, showing strong investor confidence in performance.
Story at a Glance
- Category
- MARKET
- Reported By
- The Economic Times
- Reading Speed
- 6 Minute(s)
- Market Focus
- India Economy
Synopsis
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 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% in early trading. The stock has more than tripled in value so far this year.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
The Economic Times
Read the full, original unfiltered story directly on the publisher's portal.