BUZZ - Marvell shares hit a three-month high after raising its fiscal 2028 revenue forecast
路透社2026/10/06 14:56On October 6th, shares of chip design company Marvell Technology (MRVL.O) surged 7.4% to $2,291.30 after the company issued an optimistic long-term revenue forecast during its Investor Day, reaching their highest level since June 30th. According to data compiled by the London Stock Exchange Group (LSEG), MRVL expects revenue of around $20 billions for fiscal year 2028, surpassing analysts' estimates of $18.2 billions. The company raised its revenue forecast for fiscal year 2028 from the $18 billions predicted in August to approximately $20 billions. The CEO expects the addressable market to reach $400 billions by 2030 and forecasts revenues for fiscal year 2031 between $70 billions and $90 billions. Including intraday fluctuations, the stock price has more than tripled so far this year. (For the convenience of non-English speakers, Reuters provides automated translations of its reports in several languages. As automated translations may contain inaccuracies or lack necessary context, Reuters does not guarantee their accuracy and provides them solely for readers' convenience. Reuters assumes no responsibility for any damage or loss resulting from the use of this automated translation feature.)
October 6 - ** Chip design company Marvell Technology (MRVL.O) shares surged 7.4% to $2,291.30
** The company issued an optimistic long-term revenue forecast at its investor day, with the share price reaching the highest level since June 30.
** According to data compiled by London Stock Exchange Group (LSEG), MRVL expects (link) revenue of around $20 billion for fiscal year 2028, exceeding the analyst estimate of $18.2 billion.
** The company raised its fiscal year 2028 revenue outlook from the August forecast of $18 billion to about $20 billion.
** The CEO anticipates that the total addressable market will reach $400 billion by 2030 and forecasts fiscal year 2031 revenue in the range of $7 billion to $9 billion.
** Including intraday volatility, shares have more than tripled so far this year.
(To facilitate non-English speakers, Reuters provides automated translations of its reports into several other languages. As automated translation may be incorrect or lack necessary context, Reuters does not guarantee the accuracy of the automated translation text and provides it for reader convenience only. Reuters accepts no responsibility for any losses or damages resulting from the use of this automated translation feature.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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