Marvell Poised for Growth as Amazon Deal and 39% Data-Center Revenue Jump
Jim Cramer advised Marvell holders to buy more shares ahead of next week’s earnings, citing a “phenomenal” chip deal with Amazon and strong Trainium demand by hyperscalers. The company’s data-center revenues jumped 39% year-over-year in Q3, driven by surging custom AI silicon and connectivity products.
1. Cramer’s Bullish Endorsement
Jim Cramer highlighted Marvell on Squawk on the Street, praising CEO Matt Murphy’s leadership and urging investors to hold the stock and buy more if it dips early next week.
2. Amazon Partnership
Murphy is expected to unveil a “phenomenal” supply agreement with Amazon, under which Marvell’s Trainium accelerators are being deployed to meet hyperscaler demand after Amazon sold out its recent chip inventory.
3. Data-Center Sales Surge
Marvell’s data-center revenues climbed 39% year-over-year in Q3, fueled by robust sales of custom AI processors and connectivity products to hyperscale cloud operators.
4. Earnings Outlook
With Q4 results due next week, investors anticipate management commentary on deal specifics and forward guidance, following a strong AI-driven sales performance.