Marvell Technology, Inc. (NASDAQ:MRVL) is one of the 10 Buzzing AI Stocks on Wall Street Right Now. On July 1, Piper Sandler analyst Harsh Kumar reiterated an “Overweight” rating on the stock with an $85.00 price target, citing the company’s XPU growth strategy.
The firm is confident that Marvell’s XPU strategy is on track and will ramp up significantly in the near to mid-term timeframe. It considers Marvell to be one of the two companies that possess intellectual property to service the leading-edge XPU market for hyperscaler customers.
“Growth to be Driven by XPU Proliferation; Last week, we had the opportunity to host management meetings with MRVL. We came away reaffirmed that the growth strategy for the company related to their XPU strategy is on track and is set to ramp significantly in the near to mid-term time frame.”
Marvell Technology, Inc. (NASDAQ:MRVL) engages in the development and production of semiconductors, focusing heavily on data centers.
While we acknowledge the potential of MRVL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 AI Stocks in the Spotlight and 10 AI Stocks Investors are Watching.
Disclosure: None.
