Marvell raised its 2028 revenue forecast to about $20 billion on Tuesday, citing strong demand for its chips used in data centers.
Shares of the company rose nearly 9% in early trading. The stock has more than tripled in value so far this year.
Marvell had forecast $18 billion in revenue in August. Analysts were expecting revenue of $18.2 billion, according to data compiled by LSEG.
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US stocks: Marvell raises 2028 revenue forecast on strong AI data center demand
Marvell has increased its revenue forecast for 2028 to around $20 billion due to strong demand. The company's shares surged nearly 9% in early trading following the announcement. Previously, Marvell had projected $18 billion in revenue in August, while analysts expected slightly higher figures. This year, the stock has tripled in value, reflecting investor confidence in the company's performance.
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This story was reported and first published by The Economic Times on 6 October 2026. HUE Legacy Ventures did not write it.
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