Marvell's ambitious long-range outlook is encouraging about hyperscaler and AI-lab spending plans, but hitting it depends on AI revenue and token consumption soaring through decade's end. Even if its FY28 estimates rise again, Marvell trades at a healthy premium to Nvidia and Broadcom, especially on a GAAP basis, and those two are growing fast too. x.com 

Broadcom is too cheap to ignore at 20x forward earnings, down from 32x a year ago, while its AI revenue is set to double two years running. Q3 AI semiconductor revenue rose 221% to $16.7 billion and net income tripled to $13.1 billion. Hock Tan guided to $115 billion of AI revenue in fiscal 2027 and $230 billion in 2028, with EPS above $30 versus $25.86 consensus. Broadcom builds TPUs for Alphabet, MTIA for Meta and Jalapeño for OpenAI. x.com 

Marvell's Q2 confirms a multi-year custom silicon and optical supercycle, with Q3 revenue guidance of $3.15 billion far above the $3.03 billion consensus. The AWS shift to 3nm Trainium 3 is ramping faster than expected, joined by 800G and 1.6T optical DSPs, Teralynx switching and Microsoft's Maia. Attach silicon around accelerators, including for Google, gives it a tollbooth across hyperscale infrastructure and a path to about $11 of CY28 EPS against a $9.64 consensus. x.com  x.com 

Broadcom's stronger AI business looks cheap for its growth, making it one of the best buys in the market right now. AI chip revenue rose 221% to $16.7B last quarter, yet the stock trades at 19x forward earnings and a 0.35 PEG. Management sees AI revenue near $115B in fiscal 2027 and would raise that outlook if customers secure more land and power. Anthropic is on track to be its largest custom chip customer next year. Wall Street's $529 average target implies about 60% upside. x.com 

Marvell's $1 trillion valuation, which Jensen Huang predicted, is a slogan rather than a valuation. At its FY2028 targets of $16.5B revenue and a high-30s operating margin, $1T means about 60x sales and 180x adjusted earnings; at 30x earnings it would need roughly $95B of revenue, essentially the entire $94B 2028 data center market Marvell estimates. GAAP net income was just $34.5M in Q1, and dilution adds pressure. Operating leverage from 45% growth is the bull case. x.com 

Marvell's connectivity and custom AI silicon support raised revenue targets of about $12bn for FY27 and $18bn for FY28, even as shares fell 7.8% after hours on high expectations. F2Q revenue of $2.74bn rose 37% year over year and F3Q guidance of $3.15bn implies 50% growth. Management guides custom ASIC growth above 100% in FY28, with a path to $16bn+ by FY29 versus its ~$10bn, helped by a multi-year Google deal. AI clusters needing ~10x more bandwidth favor 1.6T optics. Buy, $290 target. x.com  … Show more

Marvell falling on a strong quarter and guidance usually means all the good news is already priced in. x.com 

Marvell's run looks like distribution, not accumulation: it doubled in four months on decelerating earnings, spiked on a CEO's compliment and printed its heaviest volume at the top. After Jensen Huang called it the next trillion-dollar company at Computex, it jumped 32% in a day, capping a 105% gain in 18 weeks on record volume of 441 million shares, while EPS growth slowed four straight quarters from 158% to 29%. A 40% collapse from the peak in five weeks followed, the mark of a climax run. … Show more

The market may still be underestimating Marvell as it becomes a key supplier of custom silicon and connectivity for the AI build-out. At its Investor Day, Marvell put its addressable market at about $400 billion by 2030, targeted about $20B of FY28 revenue and said revenue could reach $70-90B by FY31. Last quarter revenue rose 37% to $2.74B on AI and data-center demand, and Nvidia's Jensen Huang reportedly called Marvell the next trillion-dollar company. x.com  x.com 

Broadcom's AI business is on track to double in fiscal 2027 and again in 2028, backed by long-term locked-in orders from Google, Anthropic and OpenAI. CEO Hock Tan raised 2026 AI chip revenue guidance to $58 billion from $56 billion and projected about $115 billion in 2027 and $230 billion in 2028. Broadcom dominates custom AI accelerators for hyperscalers and the Ethernet and PCIe switches linking AI clusters. VMware software, with about 66% operating margins, adds resilient cash flow. x.com