With another strong quarter in the books, Broadcom ( AVGO ) is seeing the sort of post-earnings volatility that is common with fast-growing, high-multiple, popular theme stocks, and with Broadcom now among the clear leaders in AI silicon, it fits all those categories.Analyst’s Disclosure:I/we have a beneficial long position in the shares of AVGO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it ...

With another strong quarter in the books, Broadcom ( AVGO ) is seeing the sort of post-earnings volatility that is common with fast-growing, high-multiple, popular theme stocks, and with Broadcom now among the clear leaders in AI silicon, it fits all those categories.Analyst’s Disclosure:I/we have a beneficial long position in the shares of AVGO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it ...

Question-and-Answer SessionWhy don't we start off with the big question that I'm sure you're getting asked in a lot of meetings, $3 trillion of announced spend, the ability to deploy the spend in question, are we in a bubble, et cetera, et cetera. You guys are increasingly one of the largest providers of AI silicon in the world. How do you feel about this trend? Are we in the early stages of a long investment cycle? Are we going too fast? Any comments there would super helpful.Christopher KoopmansPresident ...

Summary of Marvell Technology FY Conference Call Company Overview - **Company**: Marvell Technology (NasdaqGS:MRVL) - **Date of Conference**: December 10, 2025 Key Industry Insights - **AI Investment Cycle**: The industry is in the early stages of a long investment cycle, likely lasting 10-15 years, initiated by the launch of ChatGPT in 2022. There is a constant demand for faster computing power and higher speed I/O to meet workload requirements [7][8] - **Data Center Architecture**: Marvell is focusing on enhancing connectivity within data centers, particularly through acquisitions like Innovium and Inphi, which target switching and optical interconnect technologies [11][12] - **Traffic Distribution**: Currently, 80%-90% of data center traffic is within the scale-up portion (XPU to XPU), while the optical and switching market accounts for only 10% of traffic [11][12] Product Portfolio and Acquisitions - **Celestial AI Acquisition**: This acquisition is expected to enhance Marvell's product offerings, particularly in optical interconnect technology, with the first chiplet being a 16-terabyte chiplet, significantly larger than the current state-of-the-art [12][13] - **Interconnect Business Growth**: Marvell's interconnect business is valued at $3 billion, primarily in scale-out, with significant growth potential in scale-up markets due to the Celestial AI acquisition [14] Revenue Projections - **Future Revenue Estimates**: Marvell anticipates a run rate of $500 million by the end of 2027, potentially doubling to $1 billion by the end of 2028, based on the adoption of new technologies [19][20] - **Optical Business Growth**: The optical interconnect technology has seen a 50% CAGR since the Inphi acquisition, with record bookings in recent quarters, indicating strong demand driven by AI-related cloud CapEx [27][28] Market Dynamics - **Custom ASIC Business**: Marvell's custom ASIC business is expected to double by 2027, driven by long lead times for orders and the introduction of new customers [35][36] - **XPU Attach Business**: The XPU attach business is projected to reach $2 billion by 2028, with significant contributions from SmartNICs and CXL memory expanders [40][41] Challenges and Risks - **Supply Chain Concerns**: Potential supply constraints and market digestion of CapEx could impact revenue growth, particularly in 2027 [62][63] - **Market Adoption of New Technologies**: The transition from electrical to optical technologies in data centers is still in progress, with varying adoption rates across different segments [18][19] Strategic Initiatives - **Golden Cable Initiative**: This initiative aims to provide multi-sourced solutions for copper cables, addressing customer demands for flexibility and reliability in the supply chain [22][23] - **Participation in NVLink Fusion**: Marvell is involved in the NVLink Fusion ecosystem, providing custom products for customers looking to integrate this technology into their architectures [50][51] Conclusion Marvell Technology is strategically positioned to capitalize on the growing demand for AI and data center technologies, with a robust product portfolio and significant growth projections. However, the company must navigate potential supply chain challenges and market adoption hurdles to achieve its ambitious revenue targets.

Economic Indicators - The Consumer Price Index (CPI) report indicated a 0.4% increase in August, slightly above the 0.3% forecast, with a year-over-year figure of 2.9% matching expectations [2][3] - Core CPI, excluding food and energy, rose by 0.3% in August, leading to a 12-month increase of 3.1%, both figures aligning with forecasts [2] - Weekly unemployment filings surged to 263,000, exceeding the expected 235,000, marking the highest level in nearly four years [3][4] Federal Reserve Outlook - The CPI data suggests a rate cut is still likely, although the 0.4% increase diminishes the chances of a half-point cut [4] - The focus is shifting from the size of the rate cut to the updated dot plot, which will indicate future rate cut expectations, with Wall Street now anticipating four cuts instead of three [5][8] - The Federal Reserve is balancing persistent inflation, currently at 2.9%, against a rapidly softening labor market [7][8] Market Reactions - The bond market's response to potential rate cuts is uncertain, as long-term yields may rise even if the Fed cuts rates, which could create a challenging environment for stocks [9][10] - A steepening yield curve driven by policy rather than market forces could hinder market growth, especially if unemployment continues to rise [11][12] - Recent job numbers indicate a concerning trend, with the unemployment rate at its highest since 2021, potentially impacting corporate earnings and borrowing costs [13][14] Company Insights - Lyft Inc. (LYFT) has seen a significant increase in share price, rising 40% since being highlighted, with a recent trade yielding a 209% profit [16][17] - The company is benefiting from changes in how U.S. companies can expense research and development, positioning it for further growth [16] - The sentiment around LYFT suggests that it is not too late for new investors, as the stock is expected to continue gaining traction [17] Technology Sector Developments - Insights from the All-In Summit indicate a strong focus on robotics and AI, with significant advancements being showcased [21][22] - The CEO of Arm Holdings emphasized the ongoing demand for AI chips, suggesting that the AI boom is far from over [23] - Uber Technologies Inc. (UBER) is preparing for a future with autonomous vehicles and aerial ridesharing, indicating a shift in transportation dynamics [24][25]