Marvell Wins Wall Street. Google Bets $12 Billion. Amazon Fears Fade.

Marvell Technology (MRVL) keeps winning over the analysts. GF Securities reiterated its favorable view on the stock, naming it a top pick within its positive outlook on custom AI chips. Analyst Henry Huang said much of the growth he sees comes from Alphabet's (GOOG) (GOOGL) Google. He expects three of Marvell’s chip lines tied to Google to bring in around $3 billion each by 2028. Huang also sees Marvell playing a growing role in Amazon.com’s (AMZN) Trainium chips, worth roughly $1 billion this year and $2 billion next year. GF was not alone. Wells Fargo, Morgan Stanley, Susquehanna, and Rosenblatt Securities all raised their Marvell price targets within a day of each other.

None of this comes out of nowhere. Just a few days back, Marvell signed a custom chip deal with Google that let the search giant take a potential $12 billion equity stake in the company. Huang expects that partnership to improve Marvell’s odds of winning even more of Google’s future chip work.