After Skyrocketing 340% in Just 12 Months, Is Marvell Technology Stock Still a Good Buy?
There could be a catalyst around the corner that sends the stock higher.
After Skyrocketing 340% in Just 12 Months, Is Marvell Technology Stock Still a Good Buy?
Overview
Custom chipmaker Marvell Technology (NASDAQ: MRVL) has been performing well in recent quarters, and its shares have risen by more than 340% in just the past 12 months. And with more growth still on the horizon due to artificial intelligence (AI), investors remain bullish on its long-term future.
In the near term, it may have yet another catalyst for investors to look forward to: its addition to the S&P 500. In the upcoming update to the popular index, Marvell's stock will be among the additions, joining the index as of June 22. Does that news, along with its promising growth and outlook, make the stock a no-brainer buy right now?
Image source: Getty Images.
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Originally published at www.fool.com.
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