{"id":519105,"date":"2026-03-06T22:55:09","date_gmt":"2026-03-06T22:55:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/519105\/"},"modified":"2026-03-06T22:55:09","modified_gmt":"2026-03-06T22:55:09","slug":"marvell-shares-surge-20-as-ceo-points-to-continuing-ai-demand","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/519105\/","title":{"rendered":"Marvell shares surge 20% as CEO points to continuing AI demand"},"content":{"rendered":"<p><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/03\/108274849-17728139611772813959-44395048525-1080pnbcnews.jpg\" alt=\"Strong guidance boosts Marvell shares\"\/><\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/quotes\/MRVL\/\" rel=\"nofollow noopener\" target=\"_blank\">Marvell<\/a> shares ripped 18% higher on Friday as the company posted an earnings beat and issued strong guidance, expecting robust <a href=\"https:\/\/www.cnbc.com\/ai-effect\/\" rel=\"nofollow noopener\" target=\"_blank\">artificial intelligence<\/a> demand to continue.<\/p>\n<p>The semiconductor company reported adjusted <a href=\"https:\/\/investor.marvell.com\/news-events\/press-releases\/detail\/1011\/marvell-technology-inc-reports-fourth-quarter-and-fiscal-year-2026-financial-results\" target=\"_blank\" rel=\"nofollow noopener\">earnings<\/a> of 80 cents per share for the quarter, exceeding the 79 cents per share expected by analysts polled by LSEG. The company reported $2.2 billion in fourth-quarter revenue, topping a forecast of $2.1 billion.<\/p>\n<p>&#8220;Look at our results that we&#8217;re guiding. Look at our outlook for this year. Look at our outlook for next year. Do you see me blinking? You don&#8217;t,&#8221; CEO Matt Murphy told analysts on the earnings call.<\/p>\n<p>Murphy said in a release that the company expects year-over-year revenue growth to accelerate in each quarter of 2027.<\/p>\n<p>For Q1 2027, the chipmaker expects revenue of $2.4 billion, +\/-5%. Wall Street expected $2.27 billion.<\/p>\n<p>The company&#8217;s revenue for data centers in fiscal 2026 surpassed $6 billion, an increase of 46% from last year.<\/p>\n<p>Marvell completed acquisitions of<a href=\"https:\/\/www.cnbc.com\/2025\/12\/02\/mrvl-earnings-q3-2026-acquires-celestial-ai.html\" rel=\"nofollow noopener\" target=\"_blank\"> Celestial AI<\/a> and XConn Technologies last month. Murphy told analysts on the earnings call that the acquisitions are expected to add $250 million in aggregate revenue for fiscal 2028.<\/p>\n<p>The company forecasted $14.48 billion in revenue and earnings of $5.35 per share for fiscal 2028.<\/p>\n<p>Analyst reactions to the earnings were largely positive.<\/p>\n<p>&#8220;Overall, we are impressed with the strong multi-year revenue outlook and the diversity of customer program ramps,&#8221; J.P. Morgan analyst Harlan Sur wrote in a note Friday. <\/p>\n<p>The bank reiterated its overweight rating on the stock and upped its price target from $130 to $135.<\/p>\n<p>CNBC&#8217;s Kristina Partsinevelos contributed to this report.<\/p>\n<p>Stock Chart IconStock chart icon<img decoding=\"async\" src=\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\" class=\"Collapsible-dismissButton\" alt=\"hide content\"\/><\/p>\n<p>Marvell one-day stock chart.<\/p>\n","protected":false},"excerpt":{"rendered":"Marvell shares ripped 18% higher on Friday as the company posted an earnings beat and issued strong guidance,&hellip;\n","protected":false},"author":2,"featured_media":519106,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[62,276,277,2158,161,49,48,28015,16326,189646,37061,195737,61],"class_list":["post-519105","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-breaking-news-technology","tag-business-news","tag-ca","tag-canada","tag-dividends","tag-earnings","tag-ishares-semiconductor-etf","tag-marvell-technology-inc","tag-spdr-sp-semiconductors","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/519105","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=519105"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/519105\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/519106"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=519105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=519105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=519105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}