MRVL - Marvell's Growth Transformation Well-Reflected In The Valuation

• Marvell has very attractive multiyear growth opportunities in wireless and data center infrastructure sufficient to support double-digit long-term revenue growth with meaningfully higher margins.
• 5G base station deployments create a multibillion-dollar opportunity for Marvell, predicated on shares gains for Samsung and stability (or better) for Nokia.
• Marvell has significant exposure to multiple opportunities in the data center, including interconnect (the Inphi deal), switch silicon, and custom ASICs for hyperscale customers.
• Marvell trades like the growth stock it is, and it's tough to see how the multiple will hold up as orders (and investor sentiment) inevitably cool.

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