Marvell Technology Group reported Q1 fiscal 2027 revenue of $2.42 billion, surpassing analyst estimates and marking a 28% year-over-year increase. The chipmaker's adjusted EPS was $0.80, slightly above expectations, with record operating cash flow of $638.8 million. Driven by exceptional AI-related bookings, Marvell raised its revenue outlook for fiscal years 2027 and 2028, citing strong demand across various AI-driven products like scale-out optics and Ethernet switches. The company also forecasted Q2 revenue of about $2.7 billion, exceeding estimates, signaling continued growth fueled by AI technology adoption.
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,...
