Core Viewpoint - Marvell Technology (MRVL.US) reported strong first-quarter earnings, driven by robust demand for AI in data centers, but market confidence remains a concern as the stock price fell over 6% following the announcement [1] Financial Performance - Marvell's Q1 revenue increased by 63% year-over-year to $1.895 billion, marking a record high and exceeding market expectations [1] - Adjusted earnings per share (EPS) for Q1 were $0.24, surpassing market forecasts [1] - For Q2, the company expects revenue to be around $2 billion (with a 5% fluctuation), higher than analyst expectations of $1.98 billion, and adjusted EPS is projected to be between $0.62 and $0.72 [1] Future Outlook - The CEO, Matt Murphy, indicated that the growth momentum is supported by strong AI demand in the data center end market and the rapid expansion of custom chip projects [1] - The company anticipates continued strong growth in Q2, with an expected adjusted gross margin of approximately 59%-60% [1] Analyst Ratings and Market Reactions - Bank of America analyst Vivek Arya maintains a "Buy" rating with a target price of $72, suggesting that the upcoming AI investor event on June 17 could boost market confidence [2] - Needham analyst N. Quinn Bolton lowered the target price from $100 to $85 but kept a "Buy" rating, citing industry valuation compression [2] - Morgan Stanley analyst Joseph Moore acknowledged previous overestimations regarding custom business with Amazon but remains optimistic about Marvell's overall business development [3]