MRVL - Is Marvell Stock a Buy Now?
2024-03-15 17:00:00 ET
Tech companies facilitating artificial intelligence technology (AI) have risen to prominence over the past year. Among these is Marvell Technology (NASDAQ: MRVL) , which saw its stock hit a 52-week high of $85.76 on March 7, just before the company announced earnings results for its fiscal fourth quarter, which ended Feb. 3.
The run-up before earnings was thanks in part to investor enthusiasm for AI. Marvell is seen as one of the enablers of this technology through the hardware it provides to data centers housing AI systems. The AI market is expected to expand from $306 billion in 2024 to $739 billion by 2030. Given the size and growth of this industry, should you purchase Marvell shares?
The answer isn't straightforward, as suggested by Marvell's stock price drop after its fiscal Q4 earnings were released. A closer examination into the company is necessary to help you determine whether Marvell is a good long-term investment .
For further details see:
Is Marvell Stock a Buy Now?