Can Marvell Stock Jump 30%?

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Shares of Marvell Technology (MRVL) returned 182.9% over the twelve months to October 26, 2026, compared with 15.3% for the S&P 500. Another 30% rise from that close would require a bet that Marvell’s data center chip sales keep growing the way they did over that year. Even with such an increase, the stock would remain short of its June 4, 2026 close, which sat 35.3% above the October 26 close. Could you have seen that data center growth coming before October 2025?

What Marvell Said And Filed Before October 2025

Yes, and management said as much before the figures showed it. On the December 3, 2024 earnings call, management said Marvell had “rapidly transformed into an AI-first data center semiconductor company.” Financial results for that quarter, which ended November 2, 2024, remained weak: sales rose only 6.9% from a year earlier, and the company posted an operating loss. So the earliest sign was a claim you had to take on trust.

Earnings calls and subsequent filings began to show the shift throughout 2025. On the March 5, 2025 call, management said custom AI silicon programs were moving into full-scale production. In the quarter ended May 3, 2025, with results filed on May 30, sales grew 63.3% from a year earlier. By the quarter ended August 2, 2025, Marvell earned an operating margin of 14.9%, compared with an operating loss in the same quarter the previous year. On the August 28, 2025 call, management said data center sales now made up three-quarters of revenue.

None of this was hidden, and the stock had already started moving. Shares climbed 44.6% in the six months before October 23, 2025, when the twelve months measured here began.

How Much Bigger Marvell’s Data Center Business Got

Data center sales reached $2.17 billion in the quarter ended August 1, 2026, up 46% from a year earlier. This accounted for 79% of Marvell’s revenue, compared with about three quarters a year before. The mix barely changed: the business that already made up most of Marvell kept growing. Not every chip stock climbed the way Marvell did. Broadcom fell 3.7%, and NVIDIA rose 18.9% over the same twelve months. Advanced Micro Devices came closest of the three, with a 126.1% return.

Investors also pay much more for each dollar of Marvell’s total sales. At the October 26, 2026 close, shares traded at 22.2 times sales over the last four quarters, compared with 9.2 times at the end of June 2025.

Is Marvell’s Growth Still Picking Up?

Yes. Growth has risen in each of the last two reported quarters, after slowing to 22.1% in the quarter ended January 31, 2026. Revenue grew 27.6% from a year earlier in the quarter ended May 2, 2026. Growth rose again to 36.5% in the quarter ended August 1, 2026.

Management expects more. Executives guided data center sales to grow roughly 75% from a year earlier in the fiscal third quarter of 2027. On the August 27, 2026 call, management said Marvell’s growth rate is speeding up even as its revenue gets bigger. This offers the same kind of sign as the December 2024 call: a forecast of growth that no filing shows yet.

The difference from December 2024 is the price. A forecast is not a result, and at the October 26 close the shares were priced at 79.5 times earnings over the last four quarters, compared with 22.9 for the S&P 500. Measured against management’s guide, data center revenue growth is the figure to watch when Marvell reports its fiscal third quarter, expected in November 2026.

Is Too Much Of Your Wealth Riding On One Stock?

Most investors only saw Marvell Technology’s run after it had happened. When one position grows into a large part of your wealth, a sharp fall can hurt your whole plan, and selling to spread the money out can bring a large tax bill. Our partner advisory firm offers a free strategy review of ways to protect a concentrated position and unwind it with less tax.

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