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Marvell raised its fiscal 2028 revenue outlook to $20 billion from $18 billion and projected fiscal 2031 revenue of $70 billion to $90 billion. BNP Paribas analyst Karl Ackerman said the forecasts could support earnings of about $33.40 per share by 2030, above management’s target of more than $30.
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