Marvell Now Sees as Much as $90 Billion in Annual Sales by Fiscal 2031. Here's Why It's a Chip Stock to Buy.
The top of the chipmaker's latest target is around 11 times its sales from last fiscal year. How much of this is already in the share price?
Overview
Marvell Technology (NASDAQ:MRVL) finally put a number on its long-term goals. Talking to investors in New York on Tuesday, management said Marvell sees revenue of around $20 billion in fiscal 2028 and $70 billion to $90 billion in fiscal 2031 (the year ending in early 2031).
For context, Marvell took in $8.2 billion of revenue in fiscal 2026, the year that ended in January. So the latest range is about 8.5 to 11 times last fiscal year's sales. Management also pegged the size of the market it's chasing at about $400 billion by 2030.
Details
Shares jumped after the event and were around $290 as of this writing. At that price, the stock trades at about 43 times the earnings expected for fiscal 2028, so it's not cheap on near-term numbers.
Source
Originally published at www.fool.com.