Marvell Data Center Revenue Jumps 38% to $1.52B as Valuation Widens vs Broadcom
Broadcom’s AI revenue reached $8.4B in the latest quarter, lifting its stock 524% since January 2023, versus Marvell’s 152% gain. Marvell’s Q3 data center revenue grew 38% to $1.52B, representing 73% of its $2.07B total, and forecasts data center growth above prior expectations.
1. Stock Performance Comparison
Since January 2023, Broadcom’s stock has surged 524% on strong AI demand, while Marvell’s shares have gained 152%, highlighting a widening performance gap despite similar market exposure.
2. Q3 Financial Results
In Q3, Marvell reported $2.07B in total revenue, with data center sales rising 38% year-over-year to $1.52B and accounting for 73% of its top line. Management forecasts data center growth to exceed prior expectations, undercutting earlier concerns over cloud customer losses.
3. Valuation Differences
Broadcom trades at roughly 69x trailing earnings and 32x forward earnings, with consensus targets near $467. Marvell appears cheaper at about 27x trailing and 23x forward, reflecting higher beta and greater share price volatility.