On August 19, InvestorPlace’s analysts will present their “best in class” AI portfolio, featuring 19 companies that are crucial to the ongoing AI Revolution. Among these, Marvell Technology Inc. (MRVL) stands out due to its unique capabilities in building custom AI accelerators and digital connections, controlling roughly 95% of the custom AI chip market alongside Broadcom Inc. (AVGO).
Marvell’s custom chip revenue is projected to double in the next fiscal year, exceeding $10 billion annually by 2029. The company has secured notable partnerships with major players like Amazon.com Inc. (AMZN) and Microsoft Corp. (MSFT), bolstering its revenue expectations to grow by 40% this fiscal year to approximately $11.5 billion, followed by a 45% increase to $16.5 billion the following year.
Currently, Marvell’s stock is priced in the low $200s after facing a significant drop from a previous high of $330. Volatility is anticipated when the company reports earnings on August 27, offering potential entry points for investors interested in capitalizing on the AI sector’s growth.
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