RBC Capital reiterates Marvell stock rating on AI growth outlook

RBC Capital has reiterated its Outperform rating and $360.00 price target on Marvell Technology stock, expecting the company to capitalize on the growing AI market. With a current market capitalization of $223 billion and a 216% return over the past year, Marvell's management is anticipated to increase its fiscal 2029 AI revenue forecast by at least $2 billion.

The firm also expects a slight rise in Microsoft XPU contribution for fiscal 2028, and anticipates Marvell to provide data center total addressable market and market share targets higher than prior forecasts.

Brief written by urgent.news from Investing.com's own syndicated text. Machine-written — may contain errors; check the original before relying on it.