投行最新调研显示，AI算力基础设施中的网络与光学互连仍是系统扩展的关键瓶颈，相关厂商有望在 收入与利润端持续受益。 迈威尔科技方面，团队称，谷歌(GOOG.US,GOOGL.US)的1.6T DSP需求预计将全部由迈威尔供应，在 800G DSP领域，迈威尔份额约70%，博通占余下30%。迈威尔被认为在1.6T TIA性能及新型封装架构方 面具备优势。此外，分析师指出，Celestial AI被视为迈威尔更广泛战略的一部分，旨在更有力地与博通 竞争，打造一站式的ASIC全栈设计合作能力。 MACOM Technology Solutions方面，渠道信息显示，公司在1.6T光电探测器(PD)领域持续提升市占率。 1.6T PD单价约2.5-3美元，显著高于800G PD的0.5-0.6美元。Evercore预计，麦康有望拿下50-60%的1.6T 模块市场，其余份额由博通、GCS及SiFotonics等厂商分享。 智通财经APP获悉，Evercore表示，其针对AI工程师开展的渠道调研结果，对英伟达(NVDA.US)、博通 (AVGO.US)、Astera Labs(ALAB.US)、迈威尔科技(MRVL.U ...

Core Viewpoint - JP Morgan analyst Harlan Sur maintains an Overweight rating on Marvell Technology, Inc. with a price forecast of $130, citing strong market leadership in optical connectivity and solid growth outlook in AI/Networking [1] Group 1: Earnings Expectations - Marvell is set to report earnings, with expectations of continued volume ramp from Amazon's Trainium 2 ASIC and Google's Axion ARM CPU programs, alongside strong demand for 800G products and initial ramp of 1.6T optical DSPs [2] - The analyst anticipates April quarter results of $1.875 billion (up 3% Q/Q) and July quarter guidance of over $2.00 billion (up 7% Q/Q), driven by data center growth and cyclical improvements [3] Group 2: AI and Optical Business - Marvell's AI ASIC MAIA Gen 2-3nm program is on track for ramp-up in 2026, with solid orders and shipments for 800G PAM4 optical DSPs and increasing ramp of 1.6T DSPs expected in the second half of the year [4] - The company is projected to drive $4 billion in AI revenues this year (ASICs + networking), representing over 2x year-over-year growth, with a strong growth profile extending into 2026 [5] Group 3: Automotive and Custom Data Center - The divestiture of the automotive business, expected to close in 2025, will create a revenue headwind of $225-$250 million in fiscal year 2026 but is expected to enhance Marvell's earnings power by $0.05-$0.10 [6] - The custom data center and AI ASIC pipeline is continuing to expand, indicating ongoing growth potential [6] Group 4: Stock Performance - Marvell's stock was trading higher by 5.69% to $64.15 at the last check [6]