Marvell Technology's stock surged to an all-time high of $323.05 amid rising demand for AI, prompting KeyBanc to raise its 12-month price target from $260 to $385, implying a 19% upside. The bullish outlook is driven by Marvell's strong position in data center networking, silicon photonics, and its acquisition of Celestial AI, which differentiate it in the market. While Marvell aims for $10 billion in custom XPU revenue by FY29, KeyBanc sees networking as a more sustainable growth area. The company’s market cap reached approximately $253.3 billion, reflecting strong investor confidence ahead of its S&P 500 entry on June 22.
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,...
