Marvell raises long-term revenue forecasts on AI demand

Marvell Technology said it expects revenue to grow 47% to $12 billion in fiscal 2027 and 67% to $20 billion in fiscal 2028, citing strong AI data center demand. The company also projected roughly $80 billion in fiscal 2031 revenue, above Street expectations, and at least 21 Wall Street firms lifted price targets on the stock.