Marvell Shares Jump 32.5% Then 13% After Nvidia CEO Trillion-Dollar Endorsement
MRVL•Marvell shares rose 32.5% on June 2—the largest single-day gain in company history—and climbed 13% premarket on June 3 after Nvidia CEO Jensen Huang touted it as a future trillion-dollar company. Stifel raised its 12-month price target to $321 from $230, reaffirming a Buy rating based on AI infrastructure demand.
1. Record Share Rally
On June 2 Marvell shares soared 32.5%, marking the largest single-day gain in company history, and jumped another 13% in premarket trading on June 3. The surge followed Nvidia CEO Jensen Huang’s endorsement of Marvell as a future trillion-dollar company during a Computex appearance with CEO Matthew Murphy.
2. Stifel Raises Price Target
Stifel analyst Tore Svanberg increased the 12-month price target to $321 from $230, citing Marvell’s strategic role in AI networking and data center connectivity. The firm maintained a Buy rating based on projected calendar-year 2027 earnings multiples of 55 times and strong infrastructure demand.
3. Cramer’s Caution on Valuation
While acknowledging Marvell’s long-term potential, Jim Cramer warned that AI stocks may be overheating, cautioning investors about high valuations outpacing fundamentals and urging a disciplined approach to rapid price increases.
