Analysts Bullish on Marvell Technology (MRVL) as Hyperscalers Cloud Demand

Marvell Technology, Inc. (NASDAQ:MRVL) ranks among the best 5G stocks to buy now. On August 25, Oppenheimer’s Rick Schafer reiterated a Buy rating on Marvell Technology, Inc. (NASDAQ:MRVL) with a price target of $95 ahead of its earnings results. Schafer cited Marvell’s solid footing in the technology sector as the reason for his bullish outlook, and he expects the company to outperform consensus estimates. Previously, Schafer listed Marvell among his favorite data center picks.

The analyst believes Marvell Technology, Inc. (NASDAQ:MRVL) would profit as hyperscalers rapidly develop AI and data centers, boosting demand for high-speed connectivity, custom processors, and GPUs.

In addition to Schafer, Susquehanna analyst Christopher Rolland retained his Buy rating for Marvell Technology, Inc. (NASDAQ:MRVL), with a price objective of $90. The analyst anticipates Marvell’s Q2 results to be consistent with expectations.

Marvell Technology, Inc. (NASDAQ:MRVL) has made a name for itself as a leader in the creation of data processing units (DPUs). In 2021, Marvell Technology, Inc. (NASDAQ:MRVL) made major acquisitions, including Inphi and Innovium, in an attempt to increase its global footprint in important industries including 5G, cloud computing, and other business solutions.

While we acknowledge the potential of MRVL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MRVL and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds.

Disclosure: None. This article is originally published at Insider Monkey.