Marvell Technology, Inc. (MRVL)’s On Fire Due To AI, Says Jim Cramer

We recently published 10 Stocks Jim Cramer Discussed As He Revealed How Canada Has Harmed The US. Marvell Technology, Inc. (NASDAQ:MRVL) is one of the stocks Jim Cramer recently discussed.

Marvell Technology, Inc. (NASDAQ:MRVL) is an American chip designer that makes and sells systems-on-chips, signal processors, and other products. The shares have lost 32% year-to-date, primarily on the back of weak earnings reports that have failed to signal sizable AI-related tailwinds to investors. Cramer’s previous remarks about Marvell Technology, Inc. (NASDAQ:MRVL) dismissed the poor share price performance and commented that the stock should have gone higher instead. This time, he discussed the stock’s performance in the context of broader AI-led market gains:

“It’s the AI-related chips that are on fire today. . . .you have Marvell. . .Because, AI is just moving along. . . .That’s a giant company. Let’s again speak of the stock market rather than Sweden’s gonna do, what’s happening in Sweden. The stock market is reacting incredibly positively to stuff and there are people who don’t want to react to it or think that somehow those points aren’t valuable. I think they’re crazy. We’re having a good rally.”

Copyright: ralwel / 123RF Stock Photo

Here’s what Cramer said previously about Marvell Technology, Inc. (NASDAQ:MRVL):

“You know what? I think it should have gone up after that last quarter. I think Matt Murphy did a terrific job. I don’t really understand the sustained decline. I think that this stock could be ready to roll. Now, Texas Instruments reported… and again, gave weak guidance. Now they’re not exactly the same, but I will tell you that I think that you could see this stock down along with Texas Instruments because Texas Instruments was that bad.”

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