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Marvell Technology (MRVL) shares have had an outstanding run, gaining around 224% year-to-date. While the rally has made the stock more expensive, its strong growth outlook suggests room for further gains.
The core thesis for buying Marvell stock rests on the staggering acceleration of its addressable market and management’s aggressive yet highly credible multi-year financial targets. At its recent Investor Day event, Marvell’s management laid out a massive long-term growth strategy driven by artificial intelligence (AI) infrastructure demand. Marvell also raised its near-term growth projection, signaling accelerating growth.
