Forget Google. This Is the Marvell Story That Matters Right Now
Source: TIKR ·
Key TakeawaysConnectivity-Led Raise: Marvell lifted its fiscal 2028 revenue outlook to about $18 billion, and CEO Matt Murphy said connectivity, not the new Google agreement, was the largest driver of the $1. 5 billion increase.
From the source
Marvell’s earnings are rising, but its forward P/E has climbed even faster. Compare Marvell’s multiple against its estimate revisions on TIKR for free → Marvell’s Raise Came From Connectivity, Not Google At the Citi Global TMT Conference lunch on September 9, analyst Atif Malik introduced Matt Murphy by repeating Jensen Huang’s line that Marvell could be the next trillion-dollar company. Murphy’s reply: “That quieted the room.” Then he spent much of the conversation on optics, switches, and signal processors. That focus is worth noticing. The headline of Marvell’s summer was the Google agreement signed on July 29 and disclosed on August 19, which gave Google a warrant for up to 58,970,907 shares at $206.58 each and covers custom programs Morgan Stanley ties to as much as $120 billion of cumulative revenue through fiscal 2033. But on the Q2 2027 earnings call , Murphy said revenue from the warrant programs through fiscal 2028 was already inside the custom target Marvell had given…