Why Marvell Technology Stock Popped Today

Core Viewpoint - Marvell Technology reported strong fiscal Q3 2026 results, exceeding analyst expectations in both sales and earnings, driven by robust demand for data center products, particularly artificial intelligence chips [1][2][3] Financial Performance - Marvell's fiscal Q3 2026 earnings per share (EPS) were $0.76, surpassing the forecast of $0.74, with sales reaching $2.075 billion against expectations of $2.07 billion [1][2] - Year-over-year sales growth was impressive at 37%, and GAAP earnings were reported at $2.20 per share, significantly higher than the previous year's profit [2] - For Q4, Marvell anticipates revenue of approximately $2.2 billion and pro forma profit of $0.79 per share, indicating a strong outlook for continued growth [6] Market Position - Marvell's current market capitalization stands at $80 billion, with a stock price of $96.60, reflecting a 4% increase following the earnings report [5] - The stock is trading at 32 times earnings, which may seem high, but the anticipated 40% growth rate justifies the valuation, suggesting that the stock remains a buy [7]