MRVL - Better Artificial Intelligence (AI) Stock: Broadcom vs. Marvell Technology
2024-06-09 12:00:00 ET
The PHLX Semiconductor Sector index has logged healthy gains of nearly 23% so far in 2024, and that's not surprising as the robust demand for artificial intelligence (AI) chips has been a driving force for this industry. However, not all companies have benefited from the surge in semiconductor stocks this year.
For example, shares of Broadcom (NASDAQ: AVGO) and Marvell Technology (NASDAQ: MRVL) are up only 19% and 10%, respectively, so far this year. That's despite the fact that both companies are witnessing a sharp jump in sales of the custom AI chips that they manufacture.
However, it won't be surprising to see these companies step on the gas thanks to the lucrative AI-focused market that they serve. So, if you had to choose from one of these two semiconductor stocks to ride the AI wave, which one should you buy? Let's find out.
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Better Artificial Intelligence (AI) Stock: Broadcom vs. Marvell Technology