Marvell - Another AI stock to look out for?
When the world was fixated on $英偉達 (NVDA.US)$ meteoric share price rally, there was another company that seem to have shied away from the limelight.
$邁威爾科技 (MRVL.US)$ also saw its share price rally on top of the positive guidance provided by Nvidia.
So what is this company all about, and how does it benefit from AI?
1. Marvell is in the business of data infrastructure
Source: Marvell Q1'24 financial highlights
Marvell is a semiconductor company, primarily operating in the data infrastructure segment.
Its data infrastructure portfolio includes data centers, carrier infrastructure, enterprise networking, and also the auto and industrial end market.
Although it might not be a company that specializes in GPUs that link directly to AI, nowadays where most of the computing is done in the cloud, data centers are pivotal for allowing AI supercomputing to be enjoyed by the mass market.
2. Revenue, margins, and EPS shrunk, but beat estimates
Source: Marvell Q1'24 financial highlights
Marvell posted USD 0.31 in adjusted earnings per share for Q1'24. Even though it's much lesser than the USD 0.52 per share in Q1'23, these results beat Refinitiv's estimates of USD 0.29.
Revenue came in at USD 1.32 billion, more than the USD 1.3 billion analyst prediction.
3. AI will propel the company forward more
Source: Marvell Q1'24 financial highlights
In the analyst conference call, Marvell CEO Matthew Murphy said the company had begun to reassess how it looked at the “tremendous” business potential of AI.
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The information available in this article/report/analysis is for sharing and education purposes only. This is neither a recommendation to purchase or sell any of the shares, securities, or other instruments mentioned; nor can it be treated as professional advice to buy, sell or take a position in any shares, securities, or other instruments. If you need specific investment advice, please consult the relevant professional investment advice and/or for study or research only.
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