- Marvell raised its FY28 revenue outlook to $20 billion from $18 billion, with the added $2 billion driven by data center connectivity — interconnect scale-up optics and switching — that moves data within and across server racks.
- Marvell guided FY31 total company revenue of $70–90 billion, well above the $47 billion FactSet consensus, and said its custom chip business (Amazon and Alphabet customers) triples in FY29 from FY28 to more than $12 billion.
- The long-term outlook rests on Marvell's view that data center capex reaches $3 trillion by 2030, growing at roughly a 35% compound annual rate from 2025 to 2030, with some prudence built in for moderating capex growth in the out-years.
- MRVL shares rose over 6% and flirted with the $300 barrier after the guidance boost; Broadcom jumped more than 4% for its best day since late August, and Nvidia tracked toward back-to-back record closes.
Quotes
“Marvell raised its revenue outlook for fiscal 2028 to $20 billion, up from the $18 billion guidance it gave alongside side its fiscal 2027 second-quarter results in late August.”
“Marvell said it expects total company revenue in the range of $70 billion and $90 billion in fiscal year 2031, well above the consensus estimate of $47 billion, according to FactSet.”
“Marvell sees its custom business tripling in fiscal year 2029 from fiscal year 2028, hitting more than $12 billion.”
“management's outlook speaks positively to the trends Nvidia and Broadcom are also experiencing in compute and networking connectivity”