Was Jim Cramer Right About Marvell Technology, Inc. MRVL)?

We recently published a list of Was Jim Cramer Right About These 11 Stocks? In this article, we are going to take a look at where Marvell Technology, Inc. (NASDAQ:MRVL) stands against other stocks that Jim Cramer discusses.

In an older segment of the show, Jim Cramer discussed Marvell Technology, Inc. (NASDAQ:MRVL) as an often-overlooked but critical player in the AI infrastructure buildout. At the time, investors were searching for stocks that could ride the artificial intelligence wave, and Cramer singled out Marvell as a potential breakout if certain trends reversed. He placed a bold bet, saying:

“Lots of people are trying to find proxies for AI, and Marvell Tech’s name keeps coming up. The semiconductor company that gives the equipment that connects Nvidia to the machines that devour computing power seems very interesting to me. And if the rest of the non-hyperscale business — a lot of it is just kind of plain old boring telecom — starts turning up? $100. Mark my words.”

An assembly line in a semiconductor factory, with workers at their stations.

Interesting prediction. Even though the stock did reach- and surpass the $100 mark by Cramer, it now fell back to $60, being down 19.10% since those comments. Marvell Technology, Inc. (NASDAQ:MRVL) provides semiconductor solutions essential to AI infrastructure, including data center interconnects and custom silicon.

Cramer appeared bullish ahead of its company’s most recent earnings report. Here’s what he said on May 23:

“Remember that also on Thursday night where there’s a lot of chatter about what Marvell Technology, MRVL, will report. Same with Dell. Both are integral parts of the data center, and there’s been a lot of speculation about how Marvell might miss the quarter while Dell will blow away the numbers. I’m not so sure that Marvell will disappoint. Matt Murphy’s a pretty good CEO, but I do expect Dell to be darn good.”

Overall, MRVL ranks 3rd on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of MRVL as an investment, 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 MRVLand that has 100x upside potential, check out our report about this cheapest AI stock.

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