Marvell Technology reported adjusted earnings of 80 cents per share, slightly above analyst estimates, with revenue rising 28% year-over-year to $2.42 billion. The company's data center segment, driven by AI infrastructure demand, hit a record $1.83 billion in revenue, growing 27% annually. CEO Matt Murphy highlighted strong bookings and expects accelerating revenue growth through 2027 and 2028, projecting fiscal 2027 revenue to reach $11.5 billion and fiscal 2028 to $16.5 billion. Despite a slight premarket stock dip, Marvell's long-term outlook remains robust, fueled by AI and data center infrastructure demand.
The FTSE 100 index fell slightly, dragged down by mining stocks reacting to China's slower GDP growth of 4.3% in Q2, its weakest in three years. Despite this, oil prices remained steady amid US-Iran tensions. PayPal shares jumped over 14% following r...
The Goldman Sachs Future Tech Leaders Equity ETF (GTEK) has delivered a 48.9% return year-to-date, nearly doubling the 25% return of the Vanguard Information Technology ETF (VGT). Unlike VGT, which heavily invests in mega-cap tech giants like Nvidia,...
