Marvell lifts fiscal 2028 revenue forecast to about $20 billion
Stockwhiz•06/10/2026•12:52 ET
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Key Highlights
- ➤Marvell (MRVL) raises fiscal 2028 revenue forecast to about $20 billion
- ➤Marvell forecasts fiscal 2031 revenue of $70 billion to $90 billion
- ➤Marvell's fiscal 2031 midpoint of $80 billion exceeds $46.85 billion estimate
- ➤Google agreement could generate up to $120 billion through fiscal 2033
- ➤Broadcom (AVGO) gains about 4% after Marvell's updated outlook
Marvell Technology raised its fiscal 2028 revenue outlook to about $20 billion as growing demand for custom data center chips tracks a surge in artificial intelligence spending.
Shares of Marvell Technology (NASDAQ: MRVL) rose about 7% in early trading Tuesday following the updated outlook. Rival Broadcom (NASDAQ: AVGO) gained about 4%.
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