Marvell Technology (MRVL) Makes AI ASICs, Says Jim Cramer

We recently published Jim Cramer Just Couldn’t Stop Talking About These 13 Stocks. Marvell Technology, Inc. (NASDAQ:MRVL) is one of the stocks Jim Cramer recently discussed.

Marvell Technology, Inc. (NASDAQ:MRVL) is a semiconductor designer whose shares have lost a whopping 44% year-to-date. If we’re looking for recent negative catalysts, we don’t have to look far, as the stock sank by a whopping 18.5% on Friday. The reason behind the dip was the firm’s fiscal second-quarter earnings report, which saw it guide third-quarter revenue at $2.06 billion to miss analyst estimates of $2.11 billion. For stocks with AI exposure, such as Marvell Technology, Inc. (NASDAQ:MRVL), such a miss is a death knell as it makes investors anxious about AI’s growth prospects. Cramer discussed Marvell Technology, Inc. (NASDAQ:MRVL) ahead of the earnings and commented on its custom AI chips called ASICs:

“True but they [Broadcom] also help make the ASIC, which was, as does Marvell, which was kind of slant, this is the alternative, the so called, let’s say the Trainium, which by the way, just so you know I think the Trainium story at Amazon’s great, but, they very specifically at NVIDIA, tell you tat if you want to have a chip that does everything, come on you got to, you have to get the Blackwell.”

Here are Cramer’s previous thoughts about Marvell Technology, Inc. (NASDAQ:MRVL):

“Marvell Technology’s run by Matt Murphy, and I gotta tell you, Matt, Matt is a gamer. I want you to buy more. I kid you not, I think the stock is going higher. Maybe it goes back to, maybe it goes back to par, which is genuine Wall Street gibberish for $100.”

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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