Marvell hits 3-month high after raising FY28 revenue forecast

Marvell Technology

06/10/2026 15:47

** Chip designer Marvell Technology's MRVL.O shares jump 7.4% to $2,291.30 
** Stock hits highest since June 30 following co's upbeat long-term revenue forecast at its investor day
** MRVL forecasts FY28 revenue of about $20 billion, above analysts' estimate of $18.2 billion, according to data compiled by LSEG
** Co raises its FY28 revenue outlook to about $20 billion from $18 bln forecast in August
** CEO sees a $400 billion addressable market by 2030 and projects FY31 revenue of $70 billion-$90 billion
** Inclusing session moves, stock has more than tripled in value YTD

 (Reporting by Darshan Kumar in Bengaluru)
 ((darshan.kumar@thomsonreuters.com))