Marvell Technology, Inc. (NASDAQ:MRVL) is one of the AI Stocks Making Waves on Wall Street. On December 22, Citigroup added a “Positive Catalyst” watch on the stock with a price target of $114.
The firm said that it is bullish on the stock ahead of the Consumer Electronics Show in early January. The show will be demonstrating an increasing adoption of Marvell’s scale-up networking solutions.
“We hosted Marvell’s SVP of Finance Steve Vermillion and SVP of Investor Relations Ashish Saran for investor meetings in Asia last week. Meetings reinforced positive conviction in our core thesis of accelerating Y/Y sales growth in 2026/27 driven by AI data centers.”
According to Citi, concerns about competition from XPU at two major hyperscale clients appear to be unfounded, and that the recent share price drop is an opportunity to buy.
Its discussions with the management have also reinforced its belief that Marvell will experience significant sales growth acceleration in 2026 and 2027. This growth will largely be driven by advancements in AI data centers.
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.
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Disclosure: None.
