SOXX - Marvell: Inflection Point Is Getting Closer And Closer
2024-06-07 08:30:00 ET
Summary
- Marvell Technology, Inc.'s post-earnings selloff isn't a disaster, as Q1 could mark a bottom.
- Marvell is well-positioned to benefit from its AI networking expertise to help hyperscalers scale AI rapidly.
- Marvell's non-data center businesses are expected to rebound in the second half.
- I argue why Marvell Technology stock isn't valued too expensively when considering its growth potential.
- Marvell Technology investors shouldn't wait any further for another buying opportunity as a potential breakout higher draws closer.
Marvell's Recent Selloff Isn't A Disaster
Marvell Technology, Inc. ( MRVL ) investors endured an initial post-earnings selloff after Marvell's first fiscal quarter earnings release in late May 2024. However, the selling intensity didn't persist this week, as the semiconductor industry ( SMH , SOXX ) has remained resilient. Marvell investors who added when I upgraded MRVL stock in October 2023 have outperformed the S&P 500 ( SPX , SPY ) markedly. MRVL formed a solid long-term bottom then, as I highlighted its appeal, given its leadership in data center networking....
Marvell: Inflection Point Is Getting Closer And Closer