Marvell Technology Skyrocketed on a Stunning Nvidia Endorsement: Could It Be the Next Trillion-Dollar AI Stock?
The networking hardware and ASIC specialist's shares have gotten rather expensive recently.
Marvell Technology Skyrocketed on a Stunning Nvidia Endorsement: Could It Be the Next Trillion-Dollar AI Stock?
Overview
Nvidia (NASDAQ: NVDA) has a great investing track record, which makes sense considering its position in the tech world. Because of the central role it plays in the artificial intelligence (AI) industry, it has to interact with many companies to ensure that its products are compatible, and it even forms partnerships when the situation is right. One company it recently promoted was Marvell Technology (NASDAQ: MRVL). Nvidia CEO Jensen Huang is so bullish on Marvell that he recently asserted that it was on course to be the next trillion-dollar company. Given that it currently sports a $270 billion market cap, it has a long way to go to reach that point, but if it does reach the $1 trillion level, that would be a tremendous result for those who invest in it now.
Since Huang's comments on Marvell at the start of June, the stock has skyrocketed by more than 40%. The question investors must answer is whether that jump captured all of the stock's near-term upside, or if it has more room to rise.
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Originally published at www.fool.com.
