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Marvell Technology Surges on AI-Driven Earnings Beat and Raised Forecast

Marvell Technology Surges on AI-Driven Earnings Beat and Raised Forecast

Author:

Global Cryptocurrency

Published:

2026-03-06 16:16:02

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BTCCSquare news:

Marvell Technology shares soared over 16% after the semiconductor firm reported fourth-quarter earnings that surpassed expectations, fueled by robust demand for AI-related products. Adjusted earnings reached $0.80 per share, while revenue climbed 22% year-over-year to a record $2.22 billion.

CEO Matt Murphy projected revenue growth of more than 30% this year, lifting the company's fiscal 2028 revenue forecast to $15 billion. The upbeat outlook marks a sharp reversal from earlier investor skepticism about the sustainability of AI-driven gains in the tech sector.

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