MRVL rides AI Optics 1.6T wave, target US$267.97

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โดย HoonVision·US·Read original
Summary · why it matters

Yuanta Securities noted that Marvell Technology reported first quarter fiscal 2027 results with total revenue of 2.418 billion US dollars, up 28 percent year on year, and normalized profit of 718 million US dollars, up 33 percent year on year, supported by strong AI demand, especially Custom XPU, 800G and 1.6T Optics for scale-out networking and high-speed Ethernet switches, which is expected to accelerate from the first quarter when revenue from 1.6T transceivers began to be recognized. Consensus expects normalized profit for fiscal 2027 to 2029 at 3.676 billion US dollars, up 49 percent year on year, 5.701 billion US dollars, up 55 percent year on year, and 8.623 billion US dollars, up 51 percent year on year, respectively, with Custom Silicon as the main driver from the ramp-up of XPU-attach programs entering mass production, alongside the Optics business expected to grow strongly from 1.6T solutions. The agreement with Google to co-develop TPU interconnect systems and the issuance of warrants tied to sales are expected to support long-term upside for the stock.

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