Market News / Story
Marvell CEO Says $30B Custom Chip Target Is ‘Not a Stretch’ – Sees Potential For $1 Trillion Valuation
Stocktwits ·
Stocktwits reports: Marvell (MRVL) shares trended lower in morning trade on Wednesday amid broader market weakness despite a slew of price target hikes from Wall Street, but CEO Matt Murphy remained upbeat after the company’s Investor Day, stating that its custom chip goal for 2031 needs only a small slice of the market. Nvidia CEO Jensen Huang said in June that Marvell could become a trillion-dollar company. Murphy said Huang’s comment came as a surprise, but acknowledged the potential…